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Nov 20, 2023 17:40 EEST
November 20 (SeeNews) - Luxembourg-based real estate company CPI Property Group said on Monday it has signed a binding deal to sell its Suncani Hvar portfolio of hotel companies in Croatia to Eagle Hills, a real estate and hospitality investor and developer based in Abu Dhabi, for an undisclosed sum.
"CPI Property Group is pleased to announce the signing of a binding agreement for the sale of 100% of the shares of Sincani Hvar Nekretnine and Suncani Hvar, the companies owning and operating the Suncani Hvar hotels, a unique resort portfolio located on the island of Hvar, Croatia," it said in a press release.
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The transaction is conditional only on approval by the Croatian antitrust agency. The full purchase price has been deposited with an escrow agent.
"We are certain that Eagle Hills will contribute to the continued success of Hvar as a desirable tourist destination," CPI Hotels director Jan Kratina said.
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