Grivalia Hospitality agreed to acquire 80% of Nafsika SA, lessee of Asteria Glyfadas

Thursday, August 17th, 2017
Last Update: 13:30

Grivalia announced that its subsidiary Grivalia Hospitality concluded a binding pre-agreement to acquire 80% of Nafsika S.A. for €17.2m. The latter holds the long-term lease of the Asteria property in Glyfada, owned by the Hellenic Public Properties Company (ETAD), where the hotel "Asteria" used to operate.

Additionally, Grivalia Hospitality has undertaken to repay €12.3m of existing obligations to a private lender, while an agreement for the deposit into custody of 80% of Nafsika S.A. shares in favour of Grivalia Hospitality was also concluded.

The final contract of the sale of shares is expected to be concluded at the beginning of 2018.

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