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Prodea: 254-million-euro deal for 55% of Mediterranean Hospitality Venture

Prodea holds a stake of 80% in MHV

Prodea Real Estate Investment Company announced the acquisition of a 55% stake in Mediterranean Hospitality Venture PLC from the Cypriot group of companies Yoda Plc.

The total consideration for the transaction amounted to 254 million euros. As a result of the transaction, Prodea holds a stake of 80% in MHV.

MHV operates as a hospitality and real estate platform in Cyprus and Greece, with a current portfolio consisting of prominent luxury hotels and resorts, residential and office developments and its shares are listed on the Cyprus Stock Exchange.

According to the managing director of Prodea, Aristotelis Karytinos, “Yoda’s investment is a vote of confidence in the vision, strategy and abilities of all team members.”

Following the acquisition, the value of its portfolio in the hospitality sector stands at 660 million euros, including approximately 1,800 rooms.