ECONOMY

Signing of Astir Palace deal put off until Wednesday

signing-of-astir-palace-deal-put-off-until-wednesday

Technical details are said to have led to the postponement on Tuesday of the signing of the new agreement for the sale of the Astir Palace Resort to Jermyn Street Real Estate by National Bank and state sell-off fund TAIPED.

The latter’s president, Stergios Pitsiorlas, said that the signing will likely take place on Wednesday once the remaining technical details are ironed out, and that the short delay will not threaten the outcome of the process, meaning that the agreement for the transfer of the hotel unit and the rest of the properties on the peninsula at Vouliagmeni, southern Athens, will be sold to the Arab-controlled fund.

The price of the deal is set at 400 million euros.