The Service of the Commission for the Protection of Competition has received a notification of a concentration, according to Section 10 of the Control of Concentrations between Enterprises Law of 2014, concerning the acquisition of the share capital of Kition Ocean Holdings Limited by Aroundtown SA, via Ribelio Limited.
Ribelio Limited is a company duly registered under the laws of Cyprus and is a special purpose vehicle company whose belongs to Aroundtown SA. Aroundtown SA is duly registered under the laws of Luxembourg and is active in investing in quality real estate, which generates value-added income, in central locations in European cities, mainly in Germany and the Netherlands.
The Target in this concentration is Kition Ocean Holdings Limited, a company duly registered under the laws of Cyprus. Kition Ocean Holdings Limited is a joint venture vehicle, which was established as a condition for the conclusion of the Concession Agreement in which it is the Concessionaire, through which it has assumed, among other things, the exclusive right and obligation to design, build, finance, operate, maintain and accordingly, return to the Government of the Republic of Cyprus the Port and Marina of Larnaca as well as the Real Estate Area as defined in the Concession Agreement.
|