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Negotiations between Marfin Popular and Louis

16/02/2007 11:50
Marfin Popular Bank is currently in negotiations with Louis, the fourth largest (in capitalization) company in Cyprus, for the acquisition of a significant stake in a central Nicosia chain hotel. In an announcement released today, Louis said that it is in deliberations with a possible buyer for the sale of a number of shares in the Group’s subsidiary, which is the owner of a hotel in Cyprus”.

“If the negotiations end up with an agreement, the Company will release a new announcement”, it reported.

It is worth noting that in September 2000, Louis had acquired 80% of the share capital of the Cyprus Company of Tourism Development – owner of Hilton Cyprus. According to StockWatch sources, Marfin’s proposal concerns the acquisition of shares in Cyprus Company of Tourism Development.

No official announcement has been released by Marfin Popular yet.