Kanika Hotels Plc cancelled the acquisition of the remaining 21.6% stake in Olympic Lagoon Hotels Limited from Amathus Public Limited.

Kanika Hotels Plc signed an agreement to acquire remaining 21.6% stake in Olympic Lagoon Hotels Limited from Amathus Public Limited (CSE:ANC) for approximately €380 million on August 23, 2019. The deal is wholly payable in cash and will immediately paid with the transfer of the deal. The deal will take place by the end of the current month. Beyond the profit which is expected to result due to the said sale, no other impact is expected to the prospects or financial results of Amathus Public Limited. Kanika Hotels Plc cancelled the acquisition of the remaining 21.6% stake in Olympic Lagoon Hotels Limited from Amathus Public Limited (CSE:ANC) on August 23, 2020.