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By Peter Stevenson MEMBERS of Volunteer Doctors Cyprus have treated around 350 people at their free clinic in Nicosia since it opened three months ago, while two more, one in Paphos and one in Polis are due to open today. Limassol also has a free clinic, which was opened only last month, and plans have been drawn ...
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SOME 10 days ago, foreign minister Ioannis Kasoulides raised expectations by announcing the possibility of a deal with Turkey for the opening of the fenced off area of Famagusta, for the return of its inhabitants. In exchange the Cyprus government would agree to the opening of Tymbou airport to direct flights. ...
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By George Psyllides PRIVATE auditors have expressed doubt the electricity authority (EAC) could be considered a going concern and have asked its board to draft a credible plan to tackle the problem, according to the auditor-general’s 2012 report on the semi-state company. Among other issues, ...
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Cyprus Internet Directory [ Sea Star Cyprus sells Hellenic Seaways stake to Piraeus Bank ]

Sea Star Cyprus sells Hellenic Seaways stake to Piraeus Bank

Sea Star Cyprus sells Hellenic Seaways stake to Piraeus Bank
February 03, 2010

Sea Star Capital Plc (SEAS) announced the sale of 8.612.500 shares in Hellenic Seaways Maritime SA (HSW) to Piraeus Bank SA for EUR34.87 mln in cash, which corresponds to 11.096% of the issued share capital of HSW at the price of EUR4.05 per share.
After the conclusion of the deal, Sea Star’s stake in HSW is cut from 36.5% to 25.4%.
The proceeds from the sale will be used to reduce debt. Sea Star reported that the loss on the disposal of the shares in HSW is expected to reach EUR13.8mln, which will affect the financial performance of the Company in 2010, but the company will make annual savings of around EUR 1.5 mln by reducing its debt.

(Source: Financial Mirror,

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