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CPC - Commission for the Protection of Competition

11/24/2021 | Press release | Distributed by Public on 11/24/2021 01:16

24/11/2021 - Notification of concentration regarding the acquisition of the sharecapital of Kition Ocean Holdings Limited by Aroundtown SA, via Ribelio Limited

The Service of the Commission for the Protection of Competition has received a notification of a concentration, according to Section 10 of the Control of Concentrations between Enterprises Law of 2014, concerning the acquisition of the share capital of Kition Ocean Holdings Limited by Aroundtown SA, via Ribelio Limited.

Ribelio Limited is a company duly registered under the laws of Cyprus and is a special purpose vehicle company whose belongs to Aroundtown Real Estate Limited, a company duly registered under the laws of Cyprus. This company is 99.98% owned by Aroundtown Limited and 0,02% by Aroundtown SA.

Aroundtown SA, as the ultimate parent company of Ribelio Limited, is active in investing in quality real estate, which generates value-added income, in central locations in European cities, mainly in Germany and the Netherlands.

The Target in this concentration is Kition Ocean Holdings Limited, a company duly registered under the laws of Cyprus. Kition Ocean Holdings Limited. Kition Ocean Holdings Limited is a joint venture vehicle, which was established as a condition for the conclusion of the Concession Agreement in which it is the Concessionaire, through which it has assumed, among other things, the exclusive right and obligation to design, build, finance, operate, maintain and accordingly, return to the Government of the Republic of Cyprus the Port and Marina of Larnaca as well as the Real Estate Area.