Insider Business Hilton Cyprus deal announced

Hilton Cyprus deal announced

NBG Pangaea REIC (Pangaea) and Invel Real Estate (Invel) have announced that Vibrana Holdings Ltd, in which Pangaea holds 90% and Invel Group 10%, have signed an agreement for the acquisition of 96.82% of the shares of the company “The Cyprus Tourism Development Public Company Limited” (CTDC) for a total consideration of €54.9 m.

CTDC is the owner of Hilton Cyprus hotel, the only 5* hotel in Nicosia, Cyprus, with a capacity of approximately 300 rooms.

The completion of the transaction is subject to approval by the Commission for the Protection of Competition of Cyprus

Top Stories

Missing child found (updated)

  A 15-year-old child reported missing from his home in Limassol since June 29 has been found and is in good health, police said on...

One new Covid case with travel history

One person has tested positive for coronavirus, bringing the total number of cases to 1005, the Health Ministry said on Tuesday, from a total...

Compulsory use of gloves by employees on way out

    The compulsory use of gloves by employees that was introduced as part of measures to contain the spread of coronavirus is to be scrapped,...

22-year-old sentenced to 13 years in jail for Nicosia manslaughter

The Nicosia Criminal Court handed down on Tuesday a 13-year jail sentence to a 22-year-old foreign national who had pleaded guilty to killing a...

House, car repair shop, storeroom damaged by fire

  A fire which broke out off the Ayii Trimithias and Anthoupolis road on Tuesday afternoon has left a trail of damage in its wake,...

Taste

How to make triandafillo ice cream, by UK Cypriot chef Loulla Astin

  Just in time for the scorching heat, UK Cypriot chef Loulla Astin has shared her recipe for refreshing triantafillo ice cream -- or as...

Cyprus sprouts with cream and prosciutto

In a big, deep frying pan, fry the prosciutto in the olive oil, on medium heat for 2 minutes. Add the onion and garlic...

Pork burger with sundried tomatoes, mozzarella and anchovies

Mix all the ingredients together with the mince in a bowl, and combine well. Divide into 4 balls and form the burgers. Warm a griddle/pan...

Sheftalies

Wash the lamb cauls with plenty of cold water and let them settle in water and vinegar for a little while. Soak the bread crumbs...