Tsokkos: Acquisition of the remaining 25% of Tsovaco Hotels
29/11/2010 9:14
A. Tsokkos Hotels Public Limited announces that it has proceeded with the acquisition of the remaining 25% of the share capital of Tsovaco Hotels Limited, owner of the three-star Napa Tsokkos Hotel in Ayia Napa.
The acquisition price has been set at €900,000. This sum will be paid with €500,000 at the signing of the agreement and €400,000 a year later.
A. Tsokkos Hotels Public Limited already holds 75% of the share capital of Tsovaco Hotels Limited and with this acquisition it secured 100% of the Company’s capital. The results of the subsidiary, Tsovaco Hotels Limited, will continue to consolidate with the results of A. Tsokkos Hotels Public Limited.
The acquisition price has been set at €900,000. This sum will be paid with €500,000 at the signing of the agreement and €400,000 a year later.
A. Tsokkos Hotels Public Limited already holds 75% of the share capital of Tsovaco Hotels Limited and with this acquisition it secured 100% of the Company’s capital. The results of the subsidiary, Tsovaco Hotels Limited, will continue to consolidate with the results of A. Tsokkos Hotels Public Limited.
