ECONOMY

CLH sells Latsis stake in Lamda

clh-sells-latsis-stake-in-lamda

Consolidated Lamda Holdings (CLH) announced on Friday the sale of a stake in Lamda Development, the company leading the consortium developing the old Athens airport at Elliniko. CLH is also starting the process for the sale of a second stake too.

“Consolidated Lamda Holdings on July 24 sold 8.9 million shares of the company Lamda Development SA and will immediately begin the concession of a supplementary package of 5,992,760 shares in Lamda Development SA,” read the firm’s statement.

This development follows an agreement among the members of the Latsis family, “in order to facilitate the new investment strategy developed by Mrs Marianna Latsi and her family, which does not include their participation in Lamda Development SA and the Elliniko project.”

The families of Spyros Latsis and Margarita Latsi maintain their holdings in CLH and “are fully supporting the development project at Elliniko,” the statement read.

After the completion of the above transactions, CLH will still hold a 42.2% stake in the entire share capital and the voting right of Lamda Development SA, thereby maintaining control of Lamda Development.