Prodea Real Estate Investment Company Société Anonyme (ATSE:PRODEA) signed a sale and purchase agreement to acquire additional 55% stake in MHV Mediterranean Hospitality Venture Plc (CSE:MHV) from Ascetico Limited on December 8, 2023. Upon completion of the Transaction, Prodea will have a 80% stake in MHV. The completion of the Transaction is subject to obtaining approval from the Commission for the Protection of Competition of the Republic of Cyprus.

The Transaction is estimated to be completed in Q1 2024.