Major shareholders of the historic Rodon Hotel in Agros have requested a meeting with Hong Kong investor Balram Chainrai following his public offer to acquire 100% of the hotel’s parent company, AGRO Development Company Ltd.
Chainrai has already secured 35.96% of AGRO’s shares through multiple acquisitions since December 20, 2024, when he first purchased 95,974 shares at €3.00 each. His most recent transaction was recorded on February 12.
Key stakeholders include Universal Life Insurance Public Co. Ltd with 17.3%, Apeitio Foundation holding 15.98%, and Marios Choiromerides with 7.34%, according to January 23 filings.
The investor has deposited €7 million in a bank account for the full acquisition, while The C. & G. School of Careers Ltd has irrevocably committed to sell its 4.41% stake.
Chainrai already maintains interests in seven other Cyprus-based companies, according to corporate records.
