Aphrodite Waterpark sold for EUR5 mln

The Aphrodite Waterpark in Paphos has been sold for EUR 5.1 mln by Aristo Developers as part of its plan to exit out of non-core property management and development businesses.

Aristo Developers sold 60% of the holding company, A&A Super Aphrodite Park Ltd to two existing shareholders (unnamed) for a total of EUR 5.176.297 in cash. Since the 600.000 shares were valued in its books at cost, or EUR 1.025.161, as a result of the sale, Aristo said it will book a profit of EUR 4.15 mln.

The development does not have an impact on Aristo’s shares trading on the CSE, since more than 95% have already been purchased by Dolphin Capital and the group is now awaiting clearance from the CSE to delist its shares from the market.