Pasal

The transformation of Pasal Development should be completed during the summer, allowing the listed property development and management company to leave behind it the troubles of the past with the support of strategic investor Sterner Stenhus.

Swedish-owned property investment group Sterner Stenhus, managed by Elias Georgiadis, is expected to serve as the "white knight" for the Theodoridis family's Pasal Development.
Kathimerini understands Georgiadis has reached an agreement with Pasal's owners to acquire a stake of around 50 percent of the listed developer through a share capital increase in the coming months.