NEWS

Russian oligarch Rybolovlev clinches purchase of Onassis isle

Dmitry Rybolovlev, the 47-year-old Russian oligarch, has purchased the Ionian island of Skorpios for 100 million euros from the grandaughter of the late Greek shipping tycoon Aristotle Onassis, Athina Onassis Roussel, Kathimerini understands.

The businessman, real estate investor and owner of AS Monaco soccer club, who has an estimated fortune of 10 billion euros, has reportedly secured the purchase of the tiny island, along with the rocky islet of Tsokari, after several months of paperwork involving lawyers and entrepreneurs in Nicosia, Brussels, Geneva and Luxembourg.

The sale was reportedly coordinated by the Athens-based legal firm Georgios Kostakopoulos and Associates. The Cyprus-based law firm Andreas Neoclous and Co. is also said to have been involved.

Rybolovlev is understood to have held up to 10 percent in shares of the troubled Bank of Cyprus whose shareholders underwent a large haircut as part of a bailout agreed between Nicosia and foreign creditors.