Dolphin Capital Atlantis acquires 79.59% of Aristo Dev

Dolphin Capital Atlantis Ltd has acquired a controlling 79.59% stake in Aristo Developers (ARD) and has expressed its intention to submit a public offer to increase its stake to 100% at the price of EUR 2.15 per share, valuing Aristo Developers at EUR 288.6 mln.
Dolphin Capital Atlantis is a Cypriot company 100% subsidiary of Dolphin Capital Investors Limited which invests in the sector of summer house complexes in Southeast Europe and which is listed in the London Stock Exchange. 

The acquisition of 20.05% of the share capital, which belonged to Elma Group of Michalakis Ioannides, has already been carried out and all the relevant forms of the transfer have been submitted to the CSE.  The Elma Group received EUR 57.8 mln in cash for its stake.

Dolphin Capital Atlantis secured the 59.54% from Theodoros Aristodemou and associated (to him) persons in a deal valued at EUR 171.83 mln.  The transfer of the stake of 59.54% to Dolphin Capital Atlantis to the CSE is subject to the approval of the Commission for the Protection of Competition and any other competent authority. 

Theodoros Aristodemou, Founder and Managing Director of Aristo Developers, will acquire a stake in Dolphin Capital Atlantis. 

Dolphin Capital Investors is listed in AIM (Alternative Investment Market) of the London Stock Exchange and is the first fund that focuses on the sector of summer-house complexes in Southeast Europe.  Its capitalization exceeds EUR680 million. 

The shareholders’ registry of Dolphin Capital Investors includes leading banking and investment organizations, such as Merill Lynch, UBS, Goldman Sachs, Morgan Stanley, Capital Group, Henderson, Lansdowne, Standard Life and Fortress Investment Group. 

Dolphin Capital Investors was established in 2005 and is managed by Dolphin Capital Partners, an independent private fund management company.  The founder and Managing Director of Dolphin Capital Partners is Miltos Kambourides and co-founder Pierre Charalambides. Both are of Cypriot origin.