Melco International Development Ltd, will assume the majority stake of 70.74% shareholding of the integrated casino resort project with the agreement to purchase Hard Rock’s interest in the company.
According to a Melco press release, the company currently holds 35.37% and has entered an agreement to purchase Hard Rock’s interest, completion of which is subject to the approval of the Cyprus government.
The remaining 29.26% belongs to CPZL (the Cyprus Phassouri (Zakaki) Limited).
Source: Cyprus Mail
