The 46% of the share capital of My Mall Limassol will be sold to two large companies of Israeli interests. Speaking to "Entrepreneurial Limassol", Andreas Hatzimitsis, CEO and co-owners of My MALL Limassol, stated that an agreement has already been reached and the final signatures are a matter of days. The amount of the sale ranges from 90 to 100 million euros, with negotiations between the two parties in Cyprus and Israel, being at an advanced stage. The percentage to be sold, was held by the also Israeli company BSR Europe, which was subject to special management.
The sale of the share capital also opens up the way for the expansion and renovation of the Mall, which has been pending for the last five years. However, as Mr. Hatzimitsis pointed out, the dispute that has risen regarding the building factors of the property should be resolved first, in order to issue an additional urban planning permit. On the subject, the management of My Mall is in negotiations with the Municipality of Limassol.
