In the Competition Protection Committee the creation of the consortium Kition Ocean Holding Ltd by the companies Prosperity Group CY Ltd and REM International (Cyprus) Ltd with the aim of assuming a long-term exclusive right for the design, construction, and financing of development projects, management, operation and maintenance of the port and marina of Larnaca, and the commercialization of real estate in the area.
The PSC disclosed the details of the ownership structure of the controlled entity and will sign the Concession Agreement with Kition Ocean Holding Ltd operating as a special purpose vehicle for the conclusion of the Concession Agreement with the Republic of Cyprus.
The two members of the consortium, Prosperity Group CY Ltd is a company duly registered in accordance with the laws of the Republic of Cyprus and, among other things, is active in conducting operations of a leading company / holding company, investment company and real estate investments in Cyprus through subsidiaries (holding of investments).
Prosperity Group CY Ltd belongs to the company Alexandrou Corporate Services Ltd, which is licensed by the Cyprus Securities and Exchange Commission and which was established for the purpose of undertaking or providing "administrative services".
REM International (Cyprus) Ltd is a company duly registered in accordance with the laws of the Republic of Cyprus and the purposes for which it was established are its operation as a holding company / holding company and, in this capacity, the holding, from part of Eldeman's parent company 50% of Kition's share capital.
Eldeman was established to manage, operate, promote businesses and companies as well as to participate in investments including land development, as well as investments and development of the large-scale mixed-use real estate.
The target of this merger is the Port and Marina of Larnaca. The Port is managed by the Cyprus Ports Authority and other government services.
The Port is versatile and serves all types of cargo from bulk to conventional while providing related port services including maintaining safe maritime access to the port, navigation, navigation aids, towing, provision of cargo handling services (including) / management of transit trade, facilitating the provision by third parties of essential services for port ships and other services relating to the sea.
Source: inbusinessnews