Following the deal valued at €3.125.000, ARI will now be in full control of the company that operates all catering and franchises within Larnaca and Paphos airports, with a 50.02% stake.
Cyprus Airports (F&B) is the exclusive food and beverage operator at both airports operated by Hermes Airports Ltd., in which the Shacolas Group has another minority share. The company said that the sale will strengthen Ermes’ liquidity position and results for 2014.
Source: Financial Mirror
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