Louis confirms in talks to sell hotel(s)

Louis Pcl, the fourth largest cap stock listed on the Cyprus Stock Exchange confirmed that it is in talks to sell a number of its hotels in Nicosia in response to a daily newspaper report which suggested that the buyer is the Marfin Popular Bank Group.

Louis said that it is engaged in talks adding that if and when they are concluded successfully, then it will make the relevant announcement.

Sources in Greece suggest that the target is the Louis subsidiary, the Cyprus Tourism Development Co., the owner of the Nicosia Hilton and Hilton Park Hotel in Nicosia and the buyer is Marfin Financial Group, a subsidiary of Marfin Popular Bank.