MHC Mediterranean Hospitality Venture Limited signed a Memorandum of Understanding to acquire Parklane Hotels Limited from C.C.C. Tourist Enterprises Public Company Limited (CSE:CCCT) and Emerald Coast Properties Limited on October 23, 2020. C.C.C. Tourist Enterprises Public Company Limited will be receiving €22.5 million as consideration for the sale of its stake. Presently, C.C.C. Tourist Enterprises Public Company holds 24.98% and Emerald Coast Properties holds 75.2% stake in Parklane Hotels Limited, respectively. The transaction is subject to due diligence and final agreement. The transaction is expected to be completed on January 23, 2021. As of January 22, 2021, completion of the acquisition has been extended until February 26, 2021. As of March 1, 2021, the completion of the transaction has been extended until March 15, 2021. As of March 16, 2021, the transaction has not yet been completed and the parties are still in negotiations.