The Commission for the Protection of Competition received on behalf of Aesara Investment Ltd, a notification of a proposed concentration according to section 10 of the Control of Concentrations between Undertakings Law (Number 83(I)/2014). The transaction concerns the acquisition by Aesara Investment Ltd of Kermia Hotels Ltd and immovable which belong to Kermia Ltd.
Aesara Investment Ltd is a company duly registered under the laws of the Republic of Cyprus, established solely for the purpose of this merger. This company belongs to natural persons, which also control companies active in the ownership, operation and management of hotels in Cyprus and in ensuring inbound tourism by large tour operators worldwide.
Kermia Hotels Ltd is a company duly registered under the laws of the Republic of Cyprus, which is a subsidiary of Kermia Ltd. Kermia Hotels Ltd is active in the operation of hotel apartments in Cyprus. The targeted properties are located just beside the hotel apartments of Kermia Hotels Ltd.