Greek company ponders Cobalt acquisition

Greece-based company Diversa announced on Wednesday that it is considering acquiring Cobalt Air, the Cyprus News Agency (CNA) reported.

Consultants authorised by the Diversa board of directors are looking into the possibility of acquiring the company Cobalt New Age Airlines Group Limited, owners of 100 per cent of Cobaltair Ltd shares.

The Greece-based company is also considering the transfer of a loan taken out by Cobaltair Ltd.

Diversa’s board of directors will evaluate the data to be collected by the consultants and assess whether the company will go ahead with the investment.

The transport ministry had revoked Cobalt’s commercial and operating licences the day after the company announced it was grounding its fleet on October 17.

Despite being given time, the airline had failed to raise the cash necessary to keep it going.

 

The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.