Elias Neocleous & Co LLC | View firm profile
Elias Neocleous & Co LLC is proud to have advised CPI Property Group (“CPI”) on the Cypriot aspects of its recent acquisition of shares in Globalworth Real Estate Investments Limited (“GREIL”). CPI is a company listed on the Frankfurt Stock Exchange with a property portfolio of circa EUR 8 billion. The shares it successfully acquired had previously belonged to Mr. Ioannis Papalekas who held them via a Cyprus SPV. Mr. Papalekas is the founder of GREIL and was responsible for growing it into a successful business. GREIL is currently listed on the AIM of the London Stock Exchange with a market capitalization in excess of EURO 2 billion. Whilst, as a result of this transactions Mr Papelakis is now no longer a shareholder in GREIL, he remains as CEO and will continue to be actively involved in the business.
This landmark deal is the latest in a series of complex multi-jurisdictional transactions advised on by the ‘Capital markets and corporate’ team of Elias Neocleous & Co LLC. It highlights the team’s position as the trusted advisor in Cyprus for handling such complex issues. In this instance the team was led by partners Elias Neocleous and Demetris Roti.
Links to media coverage of the transaction:
https://es.reuters.com/article/idUKL8N2A510W
https://uk.reuters.com/companies/O5G.DE
https://www.property-forum.eu/news/cpi-property-group-buys-more-globalworth-shares/5149
https://www.romania-insider.com/ioannis-papalekas-romania-office-king-exit