NK Shacolas transfers CTC-ARI stake to Ermes

The NK Shacolas (Holdings) as well as the Cyprus Trading Corporation Plc (CTC) and Woolworth (Cyprus) Properties Plc (FWW) announced that within the framework of the Groups’ reorganization, they have agreed to dispose their 50% stake (30,000 shares) of the issued share capital of CTC-ARI Airports to Ermes Department Stores (ERME), so that all retail trade activities will come under the umbrella of Ermes. CTC-ARI Airports Ltd has the contract to manage and operate the retail shops at Larnaca and Paphos International Airports until 2031.