The issue that dominates today’s financial press is the Greek Group “Hellenic Petroleum” and its plans for expansion in the Eastern Mediterranean, as it entered the Cypriot market successfully with the acquisition of 70 BP petrol stations.
The “Economy” inset of
newspaper “Phileleftheros” under the title “ELPE: BP is only the beginning” mentions that the acquisition of 70 BP petrol stations by the Group is the staring-point for its expansion in Cyprus and that the island will be developed into a center for future expansion in the Middle East. At the same time, the future developments in oil exploitation, as well as the transfer of natural gas in Cyprus are within ELPE’s plans.
The cost of BP Cyprus acquisition reached the satisfactory amount of 60 million sterling pounds as, on the one hand British BP sought sums to cover large investments in Central Europe avoiding borrowing, while on the other hand ELPE estimates that profitability from future strategic advantages will cover the cost.
Elsewhere, the newspaper quotes that EU’ s regulations for acquisitions and mergers will be modified.
The “Economic” inset of newspaper “Alithia” under the title “Cyprus is ELPE’s staring point” highlights that the statement of the President of the Board of Directors, George Moraites, over ELPE’s involvement in the energy sector indicates that BP’s acquisition is not simply an agreement, but also a revelation of Group’s further plans for expansion in the wider region.
Elsewhere, the inset refers to the announcement of the Ministry of Finance and its latest estimates over the development of Cyprus economy.
The “Economy” inset of newspaper “Simerini” under the title “Two companies under investigation” points out that the Legal Service has on its disposal the files of the aforementioned companies concerning charges brought by 41 investors. According to the report, “the two companies have violated the CSE legislation, while18 offences were committed by members of their Boards of Directors”.
Elsewhere, the newspaper mentions that although all municipal real estate registries were under investigation within the last 17 years, only Paphos’ irregularities over the registration of private companies in the COOP were revealed.
The “Economy” inset of
newspaper “Phileleftheros” under the title “ELPE: BP is only the beginning” mentions that the acquisition of 70 BP petrol stations by the Group is the staring-point for its expansion in Cyprus and that the island will be developed into a center for future expansion in the Middle East. At the same time, the future developments in oil exploitation, as well as the transfer of natural gas in Cyprus are within ELPE’s plans.
The cost of BP Cyprus acquisition reached the satisfactory amount of 60 million sterling pounds as, on the one hand British BP sought sums to cover large investments in Central Europe avoiding borrowing, while on the other hand ELPE estimates that profitability from future strategic advantages will cover the cost.
Elsewhere, the newspaper quotes that EU’ s regulations for acquisitions and mergers will be modified.
The “Economic” inset of newspaper “Alithia” under the title “Cyprus is ELPE’s staring point” highlights that the statement of the President of the Board of Directors, George Moraites, over ELPE’s involvement in the energy sector indicates that BP’s acquisition is not simply an agreement, but also a revelation of Group’s further plans for expansion in the wider region.
Elsewhere, the inset refers to the announcement of the Ministry of Finance and its latest estimates over the development of Cyprus economy.
The “Economy” inset of newspaper “Simerini” under the title “Two companies under investigation” points out that the Legal Service has on its disposal the files of the aforementioned companies concerning charges brought by 41 investors. According to the report, “the two companies have violated the CSE legislation, while18 offences were committed by members of their Boards of Directors”.
Elsewhere, the newspaper mentions that although all municipal real estate registries were under investigation within the last 17 years, only Paphos’ irregularities over the registration of private companies in the COOP were revealed.
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