Stademos Hotels Plc (CSE:SHL) entered into an agreement to acquire Stavros Demosthenous Contractors Ltd from Stavros Demosthenous and members of his immediate family for €13.1 million on September 11, 2015. The purchase price of €9.7 million to be paid in cash with remaining consideration to be paid through issuance of Stademos Hotels shares. The transaction was unanimously approved by the shareholders of Stademos Hotels Plc.