28/03/2008 15:43
Louis announced today that certain investors have expressed their interest in participating in its share capital, boosting rumours for the possible acquisition of the company. In an announcement released in the afternoon, the Company says that “although several potential investors from Cyprus and abroad express their interest from time to time, the interest is stronger lately and the Company evaluates it. If there are any developments on the issue, the Company will release an announcement”.
Reports earlier in the morning supported that the Company has initiated negotiations with one or more investors abroad, who expressed their interest in acquiring a significant stake in the share capital of the Company, the sixth largest in the CSE. Rumours say that the potential buyers had contacts with Louis Management in the past few days.
A Louis representative was not in the position to confirm or deny the rumours.
The latest reports sparked a strong investors’ interest for the share in the CSE, which recorded intraday gains of 13% before falling to lower levels in the afternoon.
Louis saw its profits falling in 2007 due to Sea Diamond’s disaster and the higher taxation, despite the additional revenues of €20.9 million from the sale of Hilton and Gerani. Its last year’s net profits dropped to €13.3 million from €23 million in 2006.
The Company’s revenues recorded an increase to €315.1 million from €310.5 million.
On September 30, 2007, its book value had reached €307 million.
The Company’s capitalization currently stands at €200 million.
In his recent interview to StockWatch, Louis Executive Manager, Stelios Koiliaris had announced changes in the Company’s business plan and improvement in its capital returns via its presence in new markets and the development of its properties.
Reports earlier in the morning supported that the Company has initiated negotiations with one or more investors abroad, who expressed their interest in acquiring a significant stake in the share capital of the Company, the sixth largest in the CSE. Rumours say that the potential buyers had contacts with Louis Management in the past few days.
A Louis representative was not in the position to confirm or deny the rumours.
The latest reports sparked a strong investors’ interest for the share in the CSE, which recorded intraday gains of 13% before falling to lower levels in the afternoon.
Louis saw its profits falling in 2007 due to Sea Diamond’s disaster and the higher taxation, despite the additional revenues of €20.9 million from the sale of Hilton and Gerani. Its last year’s net profits dropped to €13.3 million from €23 million in 2006.
The Company’s revenues recorded an increase to €315.1 million from €310.5 million.
On September 30, 2007, its book value had reached €307 million.
The Company’s capitalization currently stands at €200 million.
In his recent interview to StockWatch, Louis Executive Manager, Stelios Koiliaris had announced changes in the Company’s business plan and improvement in its capital returns via its presence in new markets and the development of its properties.
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