It has been reported that Greek-American billionaire John Catsimatidis is set to acquire the Athens Hilton Hotel from Ionian Hotels, an Alpha Bank subsidiary.
According to crash magazine online and Sofocleous.gr, the hotel's selling price has been set above the company's market value; as a result Alpha Bank will generate ample capital gains from Ionian Hotel's selling shares. Ionian Hotels' capitalization is 93 million dollars, which previously was 100 million euros in the beginning of 2014, according to Athens Stock Exchange information.
Catsimatidis was born on Nisyros and immigrated to the United States when he was a baby. He grew up in West Harlem, NY and is one of the wealthiest Greeks in America. He is the CEO, owner, president and chairman of the Gristedes Foods chain and the Red Apple Group.