The Commission for the Protection of Competition received a notification of a proposed concentration, concerning the acquisition of of part of the share capital of Athiari Commercial (Paphoς) Ltd by Philelia Limited.
Philelia is a holding company duly registered under the laws of the Republic of Cyprus. This company was established in order to acquire Athiari's share capital, as part of the restructuring of Athiari's loans. Philelia belongs to the Bank of Cyprus Public Company Ltd through the special purpose company Ilera properties Ltd which belongs to Athinodorou Brothers Super Beton Public Company Ltd, La Tour Ltd and to three natural persons, namely Mr. Kostantinos Zorpas, Dimitris Zorpas and Anastasios Zorpas.
Athiari is a company duly registered under the laws of the Republic of Cyprus. The said company is a real estate development company, which owns Kings Avenue Mall, in Paphos. The company's activities are exclusively related to the ownership and / or exploitation of the said shopping mall.