Airtours Plc Buys into Aqua Sol Hotels
5/6/2001 10:33
The Board of Aqua Sol Hotels Ltd. announced that the company Airtours Plc which is based in the United Kingdom, has reached an agreement for acquisition through its subsidiary Blue Sea Overseas Investments Ltd., 19.99% of the share capital of Aqua Sol Hotels Ltd., as a strategic partner, against the sum of CYP 25.787.100
Airtours Plc is one of the largest travel companies worldwide with a notable presence internationally as well as in Cyprus. The agreement for sale of shares was made by one of the larger shareholders of Aqua Sol Hotels, Mr. Antonis Paschalis and Mr. Yiannis Panayi and from companies controlled by them.
The Board of Aqua Sol Hotels is expected to be enhanced by the presence of an expert representative of Airtours Plc. Already Aqua Sol Hotels has reached an agreement with Airtours Plc which will determine the future cooperation of the two companies for their strategic development. This agreement is expected to result in a number of benefits which will include the notable contribution of Airtours Plc in the development of Aqua Sol Hotels both in Cyprus and in Greece, managerial support for Aqua Sol Hotels through Airtours Plc’s expertise in the wider tourism sector, increased occupancy for Aqua Sol Hotels both in Cyprus and in Greece resulting in increased profits.
In particular, the two companies are considering the construction and management of tourist units in Greece, Cyprus and other tourist destinations.
The Board of Aqua Sol anticipates that the strategic partnership will substantially improve profits of the company resulting in increased performance for shareholders of the company.
Airtours Plc is one of the largest travel companies worldwide with a notable presence internationally as well as in Cyprus. The agreement for sale of shares was made by one of the larger shareholders of Aqua Sol Hotels, Mr. Antonis Paschalis and Mr. Yiannis Panayi and from companies controlled by them.
The Board of Aqua Sol Hotels is expected to be enhanced by the presence of an expert representative of Airtours Plc. Already Aqua Sol Hotels has reached an agreement with Airtours Plc which will determine the future cooperation of the two companies for their strategic development. This agreement is expected to result in a number of benefits which will include the notable contribution of Airtours Plc in the development of Aqua Sol Hotels both in Cyprus and in Greece, managerial support for Aqua Sol Hotels through Airtours Plc’s expertise in the wider tourism sector, increased occupancy for Aqua Sol Hotels both in Cyprus and in Greece resulting in increased profits.
In particular, the two companies are considering the construction and management of tourist units in Greece, Cyprus and other tourist destinations.
The Board of Aqua Sol anticipates that the strategic partnership will substantially improve profits of the company resulting in increased performance for shareholders of the company.
