Information speaks of a conscious family decision to differentiate the investment choices of the daughter of Yiannis Latsis and Erietta Tsoukalas, who transferred the shares she held through Consolidated Lamda Holdings (CLH), to Lamda Development.

Ms. Latsi’s top priority is shipping, hence she decided not to participate in the project of Elliniko from now on. In fact, the project has matured so much that her departure causes no turbulence or second thoughts to investors. And although there were some disagreements, those were settled in a temper of conciliation.

Besides, for some time now, Marianna Latsi’s family have absented themselves from the banking activities of the Group, mostly being at the helm of the group’s shipping company Latsco Shipping Ltd, headed by Mr. Paris Kassidokostas-Latsis. Real Estate, after all, has completely different characteristics and the truth is that Elliniko is definitely a time-consuming project, with its conditions constantly changing from time to time.

Meanwhile, the families of Spiros Latsis and Margarita Latsis clarified through an announcement of CLH that “they maintain their participation in Consolidated Lamda Holdings (CLH) and fully support the development project of Elliniko”.

Recall that on Friday, July 24th, under an agreement of the members of the Latsis family, Consolidated Lamda Holdings (CLH) sold a package of 8.9 million shares of Lamda Development in order to facilitate the new investment strategy that Marianna Latsis and her family have chosen and which does not include their participation in Lamda Development and the project of Elliniko.

According to some sources, the first package of 5,000,000 shares sold was transferred to the British fund “Brevan Howard”.

As for the 2 additional packages totaling 3.9 million shares, so far it is not known to whom they were transferred, although it is thought that they were also bought by “Brevan Howard” of Mr. Tryfon Natsis who, for the last 4 years, has shown the willingness to invest in real estate in Greece. The transaction of all 3 packages was carried out by Credit Suisse and Eurobank.

Today, the process for the transaction of an additional package of 5,992,760 shares of Lamda Development will begin. In total, 14.89 million shares of Lamda Development will be transferred by the family of Marianna Latsis, corresponding to 8.43% of the share capital of the listed company.

Once these transactions are completed, Consolidated Lamda Holdings will hold 42.2% of the total share capital and voting rights of Lamda Development, maintaining control over Lamda Development.

It is estimated that through the liquidation of approximately 14,900,000 million shares, Ms. Latsi will receive €83.440 million.