IKTINOS HELLAS SA informs the investing public that it has signed an agreement with Dolphin CI Thirteen Ltd, (interests of Mr. Miltos Kambouridis), for the acquisition of the 79,656% stake in the company Latirus Ltd.
IKTINOS HELLAS SA already owns the 20,344% of the Latirus Ltd and with this acquisition, it will own all the shares of Latirus Ltd.
Latirus Ltd holds the 97.60% stake of IKTINOS HELLAS TECHNIKI & TOURISTIKI SA, which is going to develop the complex tourist facility at Ormos Faneromeni, Skopi Municipality of Sitia, in an area of ​​2.800 acres, which will include :
• 5 star hotel,
• Thalassotherapy center (spa), 100 people,
• Conference center for 200 people,
• 18-hole golf course
• Marina 85 tourist boats,
• Two residential areas, with 300 maisonettes .
Until the conclusion of the agreement, IKTINOS HELLAS SA will seek for a new  investor and  cooperation with IKTINOS HELLAS , will invest in this project  which is licensed and ready for construction after a 10-year  to obtain the relevant permits .
The acquisition price of this percentage (79,656%) amounts to 14,000,000 to 15,000,000 euro, depending on the method of payment.
With the signing of the agreement, the amount of 1,400,000 euro was paid, and 7.966% of the company was acquired, so today IKTINOS HELLAS SA owns 28.31% of Latirus Ltd.
The signed agreement will be completed by 30/4/2018, after the total payment.