Announcement [16.12.2016]

“Ionian Hotel Enterprises S.A.” (hereinafter “IHE”) announces that it has been informed by Alpha Bank A.E. (hereinafter “Alpha Bank” or the “Bank”), by way of a letter dated 16.12.2016, of the following:

“Alpha Bank hereby informs IHE that, following receipt of the approval by the Hellenic Competition Commission on 29.11.2016, the Bank concluded successfully the sale and transfer of its approximately 97.3% stake in the share capital of IHE against a consideration of Euro 76.1 million or Euro 5.83 per share”.

The purchaser is Home Holdings S.A., a company owned by “Tourism Enterprises of Messinia S.A.” and “D-Marine Investments Holdings B.V.”.