M&As up 23%, VAT to rise in 2007

Financial Mirror (Cyprus) - - FRONT PAGE -

Merg­ers and ac­qui­si­tions hit CYP 106 mln in the past year, with Greek in­vestors snap­ping up Cyprus com­pa­nies, while a higher VAT rate is to be in­tro­duced in 2007, ac­cord­ing to the is­sue 656, on Fe­bru­ary 1, 2006.

Merg­ers and ac­qui­si­tions climbed 23% in 2005 to CYP 106 mln as Greek in­vestors con­tin­ued to snap up Cyprus bar­gain com­pa­nies. By far, the largest deal still in progress is the takeover by 3E (Hel­lenic Bot­tling Co.) of Lani­tis Bros for CYP 43 mln, while the se­cond big­gest was the CYP 21.6 mln paid

M&As up:

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