CPHCL Group and IHI plc to assume full ownership of Mediterranean Investments Holding
- EDITOR
- 9 hours ago
- 2 min read
Corinthia Group Companies CPHCL Company Limited (CPHCL) and International Hotel Investments p.l.c. (IHI) have reached an agreement to acquire the remaining shares in Mediterranean Investments Holding plc (MIH), bringing the company fully under their ownership.
The shares are being acquired from Kuwaiti National Investment Holding Ltd, a longstanding shareholder in MIH since its establishment in 2005.
Upon completion, IHI will hold a 25% shareholding in MIH, while CPHCL will increase its stake from 50% to 75%, giving the two related companies full ownership of the business.
MIH is a Malta-registered listed company and the owner of Palm City Residences in Janzour, Libya. The company also holds additional real estate investments in Libya, with further development opportunities under consideration.
Alfred Pisani, Group Chairman, said: “This acquisition strengthens Corinthia’s position in a company we know well and reflects our continued confidence in MIH, its assets, its people, and its long-term prospects.
“The acquisition is also aligned with our broader strategy of building value through diversified investments.”
Valued at €74 million, the transaction remains subject to completion in accordance with the agreed contractual terms.
Palm City Residences in Janzour, near Tripoli, is a well-established, oceanfront, 170,000m2 gated residential complex comprising 413 units, including bungalows, villas, houses, and apartments. Designed to offer a secure and self-contained living environment, the complex provides a range of on-site amenities and services and has become a preferred address for international companies, diplomats, and long-term residents operating in Libya.
This development reinforces the Group’s long-term investment approach and its continued focus on building value across a diversified international portfolio.... Read more here - Hotel Management Global Outlook Link
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