Tuesday October 21, 2014 Search
Weather | Athens
24o C
16o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Club Hotel Loutraki to be sold

By Vangelis Mandravelis

Club Hotel Loutraki (CHL) will be put up for sale by its Israeli owners, as Queenco-Leisure International Ltd and Club Hotel Investments have announced that their agreement to resolve their differences provides for the joint sale of CHL’s activities. Besides a casino at Loutraki near Corinth, they also include another casino based in Belgrade, Serbia.

The joint statement reads that the two parties intend to sell the assets of CHL within the next 15 months. In addition to making the highest bid, the preferred investor will not be allowed to be in any way connected, directly or indirectly, to the two main shareholders of CHL.

Club Hotel Loutraki officials made no secret on Thursday of the owners’ intention to sell the casino but refuted that the company’s manager, Nikos Remandas, will be changed as a result of the agreement between the two stakeholders. They added that in the context of the company’s restructuring and rationalization of its activities, it will offer a voluntary exit program to employees.

The owners also agreed on a cash injection for CHL to continue operating until it is sold. The deal provides for 6.8 million euros to be borrowed, which will be disbursed in the next few days.

The above coincides with pressure from the Greek government for the payment of taxes owed by CHL that exceed 40 million euros. A payment plan was recently agreed, but has not been adhered to by the enterprise.

ekathimerini.com , Thursday Jul 3, 2014 (23:22)  
At loggerheads over role of the IMF
Hong Kong telecom group buys out Greek start-up
Local tourism could see more arrivals, investments next year
Troika exerts pressure using return date
Wage dispute hurts gov’t unity before troika return
Changes to the public sector wage structure are at the heart of a dispute within the coalition that has raised concerns about whether the government will be in a position to negotiate effect...
Most Britons want to see Parthenon Marbles back in Athens, poll shows
The majority of Britons think that their country should return the Parthenon Marbles to Greece, a new poll has found. According to the survey, which was conducted by the YouGov international...
Inside News
BASKETBALL
PAOK fans stop coach Markopoulos´s move to Olympiakos
Olympiakos is once again in the lookout for a new coach after the refusal of PAOK to release Soulis Markopoulos, while Panathinaikos defeated Kolossos on Rhodes on Monday to become the only ...
BASKETBALL
Reds lose to Nea Kifissia, search for new coach
Nea Kifissia recorded the biggest win of its short history in the top flight defeating Olympiakos 68-67 on Sunday, in a Basket League weekend marred by the abandonment of the Thessaloniki de...
Inside Sports
COMMENTARY
Stop moaning and get in the game
There are so many people who love spending their days talking about the crisis and proclaiming that they know exactly what needs to be done to solve the country’s problems. Some of them obvi...
EDITORIAL
Exorcising the ghosts
Developments last week held in store an uncomfortably realistic understanding of the risks engulfing the country. The massive sell-off in Greece’s stock and bond markets was a strong shock. ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. PAOK fans stop coach Markopoulos´s move to Olympiakos
2. At loggerheads over role of the IMF
3. Hong Kong telecom group buys out Greek start-up
4. Local tourism could see more arrivals, investments next year
5. Troika exerts pressure using return date
6. Wage dispute hurts gov’t unity before troika return
more news
Today
This Week
1. Greece must stick to reforms, says Schaeuble
2. Bakers encircle Thessaloniki's White Tower with giant 'koulouri'
3. Turkish vessel enters Cypriot Exclusive Economic Zone
4. European leaders pivot back to debt crisis after wake-up call
5. Hardouvelis does not see 'big surprises' in ECB stress tests
6. Stop moaning and get in the game
Today
This Week
1. Possible third figure in Amphipolis mosaic may be uncovered shortly
2. Greece to contribute 1 mln towards Gaza reconstruction
3. Greece nearing bailout exit, says gov't spokesperson after IMF talks
4. Istanbul skyscraper casts shadow over Greece's banking ambitions
5. Coalition shooting itself in the foot
6. GPO poll gives SYRIZA clear lead over New Democracy
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.