The Service of the Commission for the Protection of Competition received on behalf of Amathus Public Ltd, Kanika Group Ltd and Olympic Lagoon Hotels Ltd, a notification of a proposed concentration according to section 10(4)(α) of the Control of Concentrations between Enterprises Law (Number 83(I)/2014), concerning an agreement for the creation of the joint venture K.A. Olympic Lagoon Resort Ltd. K.A. Olympic Lagoon Resort Ltd will acquire the shares held by Claridge Public Ltd to Olympic Lagoon Hotels Ltd and will acquire along with Olympic Lagoon Hotels Ltd joint control of Paphos Amathus Beach Hotel.
Amathus Public Ltd is a company duly registered under the laws of Cyprus, listed on the Cyprus Stock Exchange. This company is active in hospitality, travel and tourism sector.
Kanika Group Ltd is a private limited liability company, duly registered under the laws of Cyprus. This company is active in the hotel management sector through ownership or lease, the land development and property management sector and in the rental of its own office complexes.
Olympic Lagoon Hotels Ltd is a company duly registered under the laws of Cyprus. This company is a joint venture between Kanika Olympic Ltd and Claridge Public Ltd, and is active in the management of Olympic Lagoon Resort Hotel and Paphos Amathus Beach Hotel.