Lamda buys remaining stake in Flisvos Marina

Lamda Development S.A. on Monday announced that on January 23, 2020 it agreed to acquire from “ D- Marinas B.V.” of DOGUS Group, the remaining 50 pct of the shares issued by Lamda DOGUS Investments S.A., which currently holds 83,39 pct of the shares issued by Lamda Flisvos Holding S.A., a shareholder of the 77,23 pct of Lamda Flisvos Marina S.A. and manager of the Flisvos Marina.

The purchase price of the aforementioned shares amounts to 12,393,000 euros and the transfer of the shares is expected to be completed within the first quarter of 2020, given that there are no pending regulatory or administrative approvals.

On completion of the transfer, Lamda Development S.A. will become the sole shareholder of Lamda DOGUS Investments S.A., wholly controlling Lamda Flisvos Marina S.A.