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Marfin buys Cyprus Hilton May 31, 2007

Posted by grhomeboy in Hotels Cyprus.

Marfin Investment Group (MIG) said on yesterday it had completed the acquisition of a 64.3 percent holding in the Cyprus Hilton Hotel for 58.5 million euros.

MIG said its subsidiary, MIG Leisure Ltd, was paying 30.47 euros per share in the Cyprus Tourism Development Company which operates the Cyprus Hilton, located in the capital Nicosia. MIG acquired the bulk of the Cyprus Tourism Development shares from Louis Group, the island’s largest leisure group.

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