KEO sells Paphos plots

KEO Pcl (KEO.CY) announced that it has disposed its two plots of land in the ‘Tombs of the Kings’ area in Paphos to ‘Athiari Commercial (Paphos) Ltd’ and ‘Athiari Residential (Paphos) Ltd’ for the amount of EUR 61.4 mln. The profit after taxation from the sale stands at EUR 27.8 mln and will be included in the Company’s FY08 results. The company has said the cash from the above disposal would be used for the construction and operation of a new production plant, in the broader Limassol district.