Prodea Investments announced its acquisition of a 55% stake in Mediterranean Hospitality Venture PLC (MHV), a member of the Cyprus-based YODA Group. This deal marks a strategic expansion for Prodea in the hospitality industry.

MHV is renowned in the hotel sector for developing, utilizing, and managing real estate properties. Its portfolio boasts prominent and luxury hotels, resorts, and development projects in offices and residences. Notably, MHV's shares are listed on the Cyprus Stock Exchange.

The completion of this transaction is contingent on approval from the Cyprus Commission for the Protection of Competition, ensuring compliance with regulatory standards. This is a crucial step for the deal's fruition.

The transaction is expected to conclude within the first quarter of 2024. Upon completion, Prodea Investments will hold an 80% stake in MHV, significantly enhancing its presence and influence in the hospitality and real estate sectors.