Shacolas invests in Christis, Maritime Cyprus
Dealmaker Nicos Shacolas was at it again, this time taking a 50% stake in Christis Dairies, while the produced a special supplement on Maritime Cyprus in issue 129, on September 27, 1995.
Nicos Shacolas maintained his corporate takeover activity with his flagship NKS Holdings taking a 50% stake in Christis Dairies by beating seven other bidders. With annuals turnover of CYP 10 mln, Christis is expected to increase sales and production after the deal, said Managing Director
Exe-Excellent Managed Fund has strong investir interest for its IPO of 3.2 mln shares at 25c each, according to driving force Nicos Efrem, adding that 1 mln shares have already been underwritten by Ethniki Stockbrokers of Greece.
A joint meeting between Cypriot and EU ministers asserted that legislation is being amended “at a speedy pace” to comply with the ‘acquis communautaire’, in particular with matters relating to justice and internal
BOC in Greece:
Finance Minister Christodoulos Christodoulou inaugurated the new Bank of Cyprus branch in Iraklion in Crete, where board Chairman Solon Triantafyllides said that the bank will soon be regarded as “the eight biggest company on the ASE.”
Quality in shipping and the international safety code ISM were the main themes of this year’s 4th Maritime Cyprus Conference, for which the Financial Mirror produced the first-ever dedicated supplement, in cooperation with Cypronetwork. The supplement found that “prospects are excellent”, shipping accounted for 9.5% of current account receipts, the Cyprus flag ranked forth worldwide with 2,600 vessels and output of 25 mln tonnes, tanker owners called for greater safety measures, and “automation is the future”.