Dimand deal with Eurobank on Cyprus-based subsidiary

Dimand SA on Tuesday announced that its subsidiary Arcela Investments Limited signed a pre-agreement with Eurobank for the sale of Severdor Ltd, a subsidiary in Cyprus, for an appreciation of 74.4 million euros (on cash-free/debt free basis).

Severdor Ltd is the unique shareholder of Insignio MAE, owner of the land at 65 Kifissias Avenue, Maroussi, on which a landmark ultra-modern office complex building is currently being built, covering an area of 24,940 square meters.

In an announcement, Dimand said the transaction will be completed following completion of the building in the first half of 2024.