HB buys Louis House in Cyprus for 21 mln euros

Hellenic Bank has bought Louis House for 21 mln euros from Clin Company, a holding company controlled by Louis’ major shareholder and executive chairman Costakis Loizou.
The property on Amfipoleos street in Strovolos, is within the business park that includes the Hellenic Bank’s head offices, the Electricity Authority of Cyprus, the Human Resources Development Agency (HRDA) and the Cyprus Olympic Committee. The bank will use the new premises for its own needs.
Louis plc announced that it has cleared out of Louis House which it was letting from Clin Company as part of a sale-leaseback deal to reduce the company’s debts.
Louis plc has now moved to Limassol Avenue, next to the CTO offices, while Louis Hotels has moved to office space within the Hilton Park Hotel in Nicosia, a group property.
The majority of Louis Cruise’s remaining operations after a recent downsizing have moved to Piraeus where Louis Hellenic Cruises has its base.