Greece's MIG sells Hilton hotel in Nicosia

Marfin Investment Group (MIG) is selling the Hilton hotel in Nicosia and investors have until have until October 19 to submit a non binding bid.

MIG bought the Cypriot Public Company of Tourist Development Lt, the company that ownes the hotel, in 2008. MIG holds a 75 percent stake in the company, with Loulis holding an additional 21.7 percent stake.

Advising the sale is PriceWaterHouseCoopers. The Hilton is the only five star hotel in Nicosia.

The management deal with Hilton International expires in December.