An agreement has been reached in principle for the sale of newspaper Politis to a businessman by the name of Chris Panayiotou, it announced on Tuesday.

It added that the sale would include “all the companies which make up the group”.

“Negotiations are in their final stages and official announcements will be made once they are completed,” it said.

Founded in 1999, Politis has the second-largest circulation of any Greek-language newspaper in Cyprus.

Panayiotou is the chief executive officer of Limassol-based IT consulting firm Cowin Technology, and also bought a 14.89 per cent share in media company Sigma last year.

Panayiotou’s name appeared in Politis a little over two weeks ago, with the newspaper providing extensive coverage of Cowin’s recent gala dinner.

In that article, the newspaper said Cowin is based in Cyprus, but has expanded into the European Union, Georgia, the United Kingdom, the United Arab Emirates and other countries.

House president Annita Demetriou was also at the dinner, and, according to Politis, “wished Cowin to continue to be a model company for partners and employees and to bring a new era to Cyprus’ business environment”.

“Cowin’s knowhow and expertise should be an example for other private organisations to emulate,” she added.

Additionally, pop singer Eleni Foureira performed at the dinner.

Panayiotou promised attendees “even greater success”, including “in new sectors, such as the media”.