Elbridge Investments (Cyprus) Limited announces the acquisition by way of merger of its parent company namely, Elbridge Investments Limited following a successful court application and an order issued sanctioning the plan of reorganisation and merger of the two companies by the Nicosia District Court on Friday 18 December 2020.
This latest reorganisation by the Company serves in consolidating business activities and resources, while the Company enhances its presence in Cyprus by investing and participating in the growth of various sectors, including issuing and trading in securities listed with the Cyprus Stock Exchange and investments in real estate, focusing mainly in Nicosia. The Company is the owner of two prestigious building complexes in Makedonitissa and Egkomi respectively, the apartments most of which already have new owners or are well within the sale process. Additionally, the Company is the issuer of callable bonds listed with the Cyprus Stock Exchange since 2019. All necessary notifications with the Cyprus Stock Exchange have been made.
The reorganisation project was planned and materialised over the course of several months with the engagement of legal, financial and investment trading experts, under the guidance and supervision of advocate and business strategy consultant, Stella Koukounis.
The Company has recently been acquired by Vonpende Holdings P.L.C. the shares of which are also listed and traded with the Cyprus Stock Exchange. Vonpende Group is the owner of a plot next to Hilton Cyprus, which is currently under development.