22/01/2014 13:07
The final Sale and Purchase Agreement for the sale of Amathus Beach Hotel was signed yesterday, according to an announcement released today.
The buyer of the hotel is Amathina Luxury Hotels Limited, which is owned by Amathus Public Limited by 25%, by M.A. Luxury Hotels Limited (a company which belongs to Muskita Hotels group) by 50% and Elerfield Holdings Limited (another Cyprus company) by 25%.
It is noted that the Sale and Purchase Agreement contains the same terms and provisions as announced by the previous announcements.
The consideration for the said sale following the checks that have been made by the purchasing company, remains at €71.000.000 out of which €64.000.000 relate to the sale of the immovable property, €4.500.000 relate to furniture, fittings and equipment, €500.000 for stock and €2.000.000 for the right to use the name and trademark of Amathus.
On December 9, Amathus had announced that it had signed Binding Heads of Agreement with Muskita Hotels Ltd and Palmar Investments Ltd for the sale of the hotel against €71 million.
In 2012, the losses of Amathus fell to €1.3 million against losses of €2.1 million in 2011, while it expects that 2013 will be loss-making.
In the first half of the year, its losses amounted to €3.6 million.
The buyer of the hotel is Amathina Luxury Hotels Limited, which is owned by Amathus Public Limited by 25%, by M.A. Luxury Hotels Limited (a company which belongs to Muskita Hotels group) by 50% and Elerfield Holdings Limited (another Cyprus company) by 25%.
It is noted that the Sale and Purchase Agreement contains the same terms and provisions as announced by the previous announcements.
The consideration for the said sale following the checks that have been made by the purchasing company, remains at €71.000.000 out of which €64.000.000 relate to the sale of the immovable property, €4.500.000 relate to furniture, fittings and equipment, €500.000 for stock and €2.000.000 for the right to use the name and trademark of Amathus.
On December 9, Amathus had announced that it had signed Binding Heads of Agreement with Muskita Hotels Ltd and Palmar Investments Ltd for the sale of the hotel against €71 million.
In 2012, the losses of Amathus fell to €1.3 million against losses of €2.1 million in 2011, while it expects that 2013 will be loss-making.
In the first half of the year, its losses amounted to €3.6 million.
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