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Cyprus Louis says considering investor approach

Fri Mar 28, 2008 11:31am EDT

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NICOSIA, March 28 (Reuters) - Cypriot cruise and hotel operator Louis Plc LUI.CY said on Friday it had had an approach from a potential investor which was being assessed.

"From time there are approaches from potential investors from Cyprus, and abroad. Recently more intense and serious interest has been manifested which the company is assessing," Louis said in a statement to the Cyprus Stock Exchange.

A spokesman for the group declined further comment.

The group posted a net profit of 13.3 million euros ($20.96 million) in 2007. Profit last year was hit by the loss of its cruise ship Sea Diamond, which sank off the Greek island of Santorini in April 2007 after hitting a reef. Louis Plc had posted a net profit of 23.0 million euros in 2006.

The operator has four ships chartered to British operator Thomson, a unit of TUI (TUIGn.DE) and another seven sailing under its own brand in the Mediterranean. (Editing by Mike Elliott)



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