Insider Business Insider: Keen interest in Hilton Cyprus sale

Insider: Keen interest in Hilton Cyprus sale

Tenders to acquire the Hilton Cyprus Hotel in Nicosia have been extended to the beginning of December amid keen interest from investors, Insider reported on Thursday.

It said that a short list would then be drawn up so that there is a clearer picture by mid-December on the number of bidders and their financial capability to acquire the hotel.

The site said that more than 10 potential investors – both local and foreign — are reported to be interested but it remains to be seen whether they will proceed with binding bids. Meanwhile, potential bidders have access to the virtual data room as they conduct their due diligence.

For sale is 96.82% of the Cyprus Tourism Development Company which owns the hotel.  The company’s shareholders are Marfin Investment Group (MIG) with 75%, Louis with 22% and other shareholders with 3%.

Top Stories

U.S. federal agency greenlights Biden’s presidential transition

The U.S. General Services Administration (GSA) on Monday told Joe Biden it was ready to begin the formal presidential transition process for him. GSA Administrator...

Cabinet to decide on Wednesday about measures against COVID-19

Cyprus Government Spokesman, Kyriakos Koushos, has told CNA that the Council of Ministers will decide on Wednesday about what will happen as regards the...

Delays in the arrival of postal items due to decrease of flights

The Cyprus Post would like to inform the public that due to the Coronavirus outbreak, a significant decrease of flights to and from Cyprus...

Cost of electricity to be reduced in 2022, RES fee must be revised

The cost of electricity is expected to be reduced in 2022, as the market opens to competition and the project to bring natural gas...

Russia says its Sputnik V Covid-19 vaccine is 95% effective

Russia's Sputnik V coronavirus vaccine is 95 percent effective according to a second interim analysis of clinical trial data, its developers said on Tuesday. The...

Taste

Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...

Mezedes

No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...