TTTTHHHHEEEE FFFFIIIINNNNAAAANNNNCCCCIIIIAAAALLLL MMMMIIIIRRRRRRRROOOORRRR TTTTHHHHIIIISSSS WWWWEEEEEEEEKKKK
Bottling Co. buying out the Lanitis family from Coke-bottlers Lanitis Bros for CYP 50 mln. This brings the total Greek investments in four years to CYP 170 mln (EUR 290.5 mln). Zenon SA is set to take over Megabet for CYP 2 mln, while Aspis Pronoia is expected to bid CYP 16.5 mln for a 61% stake in Universal Life, currently held by Laiki and Bank of Cyprus. Earlier deals included OPAP SA taking a 90% stake in Glory Leisure for CYP 9.3 mln in 2003 and Hellenic Petroleum buying 70 petrol stations from BP for CYP 55 mln in 2002.
Real GDP growth was 3.8% in the third quarter, below the Financial Mirror’s forecast of 3.9% in September and is set to hit 4% by the end of the year, boosted by the finance and real estate sectors.
Home prices drop:
Home selling prices dropped by 0.8% in November according to the BuySell Index, bringing the average home price down by CYP 800 to CYP 85,998, but the year-to-date gain is still at 3.3%.
The Competition Protection Commission has slapped a CYP 693,000 fine on the EAC, instead of CYP 22 mln based on annual revenues of CYP 220 mln, for unfair prices on consumers and cross-subsidisation.
The raised US interest rates by a quarter point to 4.25%, futures held at just above $61 a barrel and hit its highest level since 1981 at $540.
fined: Fed crude oil Gold