Athens, 10.7.2006
Kelemenis & Co. acts for buyers in €16m hotel acquisition in Corfu, Greece

Kelemenis & Co. has been today instructed by an international hotel company to perform legal due diligence on Yaliskari Palace, a 5-star hotel situated in the Yailskari region on the Greek island of Corfu. The firm has also been instructed to draft the take-over agreement of the company owning the hotel. It is estimated that the acquisition cost, part of which will be secured through a debenture loan, and the renovation cost will together exceed the amount of €16,000,000. The transaction is expected to be completed by mid-September.

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