Athos Diamond to buy IMC centre

Athos Diamond Centre Pcl (AD.CY) is reported to be close to acquiring the International Merchandising Centre (IMC) of Andreas Kaisis located at the entrance of Nicosia, with a Board decision expected soon to ratify and seal the deal.
Informed sources told the Financial Mirror that AD, which is 68% owned by Aspis Holdings Pcl (ASP.CY) has a number of options regarding the future use of the IMC, including turning the vast complex into a hotel or a shopping mall, while other options may not be ruled out.
The IMC, which sits at the entrance of Nicosia on prime land spanning 21.000 sq. metres has all the permits and licences for commercial operations with huge parking facilities and according to sources has been valued at EUR 60 mln.
With the Cyprus Stock Exchange, the principle tenants of the building expected to move out of the building soon, the Board of Athos Diamond will be able to consider all its options and maximize the potential of the IMC to the full.
Meanwhile, more merger and takeover activity is expected from Options Cassoulides (OPT.CY), which is majority controlled by Apsis Holdings, with sources indicating that the group may acquire a local company involved in the hospitality, travel and congress industry.