Bealcy Investments Limited, a Cyprus-based investment firm, has completed a change in ownership and announced a comprehensive strategic refocus.
Effective July 14, 2023, Christodoulos Georgiou Vassiliades and Ledra Nominees Limited exited their positions as shareholders and management of the company, which was acquired by A.K. Star Nominees Limited, a Cyprus-registered company.
The transaction marked the conclusion of Bealcy Investments’ investment activity in post-Soviet markets. Under new ownership, the firm has adopted a revised strategy focused exclusively on investment opportunities in the United States and Europe. The company is also undertaking a transformation of its investment portfolio, targeting new economic sectors, including pharmaceutical manufacturing and the production of household chemicals.
According to official filings with the Cyprus Companies Registry, Mr. Christodoulos Georgiou Vassiliades—who also served as a director of Ledra Nominees Limited and Ledra Secretarial Services Limited—resigned from his roles in connection with the transaction. Ledra Nominees Limited, acting as nominee shareholder, likewise ceased its involvement with the company.
The transformation of Bealcy Investments is being led by its new owner, A.K. Star, a Cyprus-registered firm. The company operates under the leadership of Andreas Kazamias, a professional with 20 years of experience in audit and financial consulting, including training at a Big Four firm and academic qualifications from Oxford Brookes University and the Cyprus Institute of Management. A.K. Star specializes in structuring investments for international clients, supporting Bealcy's strategic focus on pharmaceutical and chemical manufacturing in developed markets.
The ownership change was accompanied by updates to the company’s corporate governance and administrative arrangements. Operational services were transferred from Christodoulos G. Vassiliades & Co. LLC to A.K. Star Corporate Services Ltd., and A.K. Star Secretary Limited was appointed as company secretary, replacing Ledra Secretarial Services Limited. In addition, A.K. Star Directors Limited was appointed to the board of directors.
Bealcy Investments Limited was founded in April 2008 in Cyprus as an investment firm focused on international business opportunities. The company evaluates projects based on reliability and commercial potential and invests through a combination of equity participation and interest-bearing loans, without strict industry limitations.
Prior to 2023, Bealcy Investments’ portfolio concentrated primarily on real estate and grain market projects in post-Soviet countries. Following the ownership change, the company reoriented its geographic focus to the United States and Europe, with core investments in pharmaceutical manufacturing and household chemical production.
A key priority of the current portfolio is the development and commercialization of pulmonary medications, including aerosol, solution, and powder-filled capsule formulations. The portfolio also includes a manufacturing facility producing laundry detergents, household cleaning products, and personal care items.
