Cyprus: change in VCW ownership structure

The Archbishopric of Cyprus purchased 12.84m shares of Vassiliko Cement Works (VCW) from the Hellenic Mining public company at EUR1.20/share. The total value of shares bought adds up to EUR15.4m.


The transaction resulted in a change over the voting rights of the participating companies. Hellenic Mining voting rights in Vassiliko Cements, a subsidiary of the Cyprus Cement Public Company (CCPC), were reduced down to zero from 17.85 per cent whereas the Archbishopric of Cyprus increased its voting rights from 1.66 per cent to 19.15 per cent.