Lamda Development signed a contract with Prodea Investments for the sale of all the shares of its 100% owned subsidiary Lamda Ilida Office S.M.S.A.
This sale / transfer will be completed after the fulfillment of specific deferrals provided in the contract. The deadline for fullfilling the deferrals is 30.09.2021.
The purchase price of the shares will be equal to the value of the net worth (NAV) of the subsidiary, as it will be determined according to the specific terms of the contract on the date of completion of the transaction. The transaction is estimated to have no effect on the company’s financial results and will benefit Lamda Development group from the reduction of consolidated loan liabilities by 39.1 million euros (ie the nominal value of the subsidiary loan on 31.12. 2020).
The transaction is part of the company’s existing strategy that aims to focus its activities on the emblematic work of Elliniko and its shopping centers.
Latest News
Everything to Know about Store Hours this Holiday Season
Stores and supermarkets across the country are operating extended hours, offering ample opportunities for holiday shopping
Greece Prepares for State Budget Vote as Debate Reaches Final Stages
Prime Minister Kyriakos Mitsotakis is expected to deliver his remarks late in the evening, shortly before the decisive vote that will conclude the session
DM Dendias: We talk With Turkey But We Always Bring Up Their Unacceptable Positions
Second and last day of closely watched conference, entitled 'Metapolitefsi 1974-2024: 50 Years of Greek Foreign Policy', also included appearances by PM Mitsotakis, Ex-PM Tsipras and PASOK leader Nikos Androulakis, among others
Rhodes Airport Tops Fraport Greece’s Regional Airports in 2024 Performance
According to Fraport's data, more than 35 million passengers (specifically 35.2 million) were handled by Fraport-managed airports during the 11 months.
European Central Bank Cuts Interest Rates by 25 Basis Points
It is the fourth cut of interest rates by Europe’s central bank, a move expected by the markets and financial analysts leading to the rate settling at 3%.
Airbnb: New Measures Add €600 in Extra Costs for Property Owners
Property managers face an immediate administrative fine of 5,000 euros if access to the inspected property is denied or any of the specified requirements are not met.
Economist: Greece Included in the Best Performing Economies in 2024
Meanwhile, Northern European countries disappoint, with sluggish performances from the United Kingdom and Germany.
EasyJet Expands Its Routes from Athens
The airline’s two new routes will be to London Luton and Alicante and they will commence in summer 2025.
Capital Link Forum Highlights Greece’s Economic Resurgence; Honors BoG Gov Stournaras
Capital Link Hellenic Leadership Award recipient, Bank of Greece Gov. Yannis Stournaras, an ex-FinMin, was lauded for his pivotal role during Greece’s economic recovery
Tourist Spending in Greece Up by 14%, Visa Card Analysis Shows
Greece’s capital Athens emerged as the most popular destination, recording a 17% increase in transactions with Visa cards, surpassing even the cosmopolitan island of Mykonos.