Atterbury Cyprus Limited signed an agreement to acquire 99.67% stake in ITTL Trade Tourist and Leisure Park Plc from Ermes Department Stores Plc and Woolworth Properties Plc for €66.3 million.

Atterbury Cyprus Limited signed an agreement to acquire 99.67% stake in ITTL Trade Tourist and Leisure Park Plc from Ermes Department Stores Plc (CSE:ERME) and Woolworth (Cyprus) Properties Plc (CSE:FWW) for €66.3 million on July 20, 2015. Ermes Department Stores sold 45 million shares and Woolworth (Cyprus) Properties sold approximately 54.67 million shares at a price of €0.6648 per share. Ermes received an amount of approximately €21.17 million at closing and the balance of €8.75 million will be paid in two installments €4 million in 3 years and €4.75 million in 5 years, with interest at 3% per annum.

Under the terms of the transaction, Attacq Limited acquired 48.75% stake in Shacolas Emporium Park by investing in Attenbury Cyprus Limited.