By G. Hatzilidis
[email protected]
A final agreement between ATHEX-listed Technical Olympic and Belterra Investments for the sale of the Porto Carras resort in northern Greece to the latter is expected by the end of this month or in the first weeks of 2020, according reports.
Belterra Investments is the venture affiliate in Greece controlled by Greek-Russian businessman Ivan Savvidis.
According to information gathered by “N”, negotiations between the two sides are in the latest stages, with only details remaining before the signing of a MoU leading to exclusive negotiations for the transaction.
Porto Carras’ shares are held by Technical Olympic’s subsidiary ΤΟ International Holding Ltd.
The resort, one of the first five-star facilities in Greece, is located on the middle Sithonia promontory of Halkidiki (Chalkidiki) prefecture, and for years also hosted a casino on site.
