Intrakom formally introduced the acquisition settlement of “Europi Asphalistiki”, confirming an OT publication. The worth of the deal quantities to 46.55 million euros
Specifically, in a fancy settlement, Intracom Holdings, which is the only shareholder of Intrakom Properties, but in addition a shareholder in Kloukinas – Lappas (KLM) launches:
- The partial acquisition of 100% of Europa Insurance coverage by Intarcom Properties
- The merger of Intacom properties with KLM and the renaming of KLM to Europa Holdings
- The entry of personal buyers into the share capital within the new scheme.
Approval ought to be taken as a right, with the deal anticipated to be accomplished throughout the subsequent six months. Each Sokratis Kokkalis and Nikos Makropoulos are anticipated to steer the crew. Kokkalis will assume the duties of president and Makropoulos will likely be appointed managing director.
The corporate announcement
The announcement intimately
– INTRACOM HOLDINGS (ATHEX: INTKA) (the Firm), the only shareholder (100%) of the joint-stock firm “INTRACOM PROPERTIES, MONOPROSOPI ANONYMI TEIREIA” (n.d. “INTRACOM PROPERTIES”) and shareholder within the joint-stock firm “I. KLOUKINAS – I. LAPPAS TECHNICAL AND COMMERCIAL COMPANY” (d.t. “KLM SA”), straight by a proportion of 27.60% and not directly by a proportion of 60.12%, by ” INTRACOM PROPERTIES”, broadcasts the signing on 29/05/2024 of a binding Memorandum of Settlement – Framework between the Firm, the subsidiary of INTRACOM PROPERTIES and Mr. Nikolaos Makropoulos (Vendor), sole shareholder of the restricted legal responsibility insurance coverage firm “EUROPE INSURANCE SOLE REPRESENTATIVE COMPANY ANONYMOUS GENERAL COMPANY INSURANCE” (d.t. “EUROPE INSURANCE”), for the definition of the essential phrases of a sequence of particular person transactions that can concern:
1. the partial acquisition (initially of 65% and later of the remaining 35%) by “INTRACOM PROPERTIES” of all of the shares of the above insurance coverage firm from the Vendor, for a complete value of € 46,550,000 (of which € 30,000,000 will concern the acquisition of 65% and an quantity of € 16,550,000 for the acquisition of the remaining 35%). Completion of the aforementioned transfers is topic to the success of sure circumstances, together with, amongst others, the related approval of the Financial institution of Greece
2. the entry of latest buyers into “Ok.L.M. S.A.” by buying the share (27.60%) that the Firm owns within the above firm, by a Non-public Placement, and their additional participation in INTRACOM PROPERTIES, by a share capital enhance
3. the routing of the actions required for the implementation:
a) of the intention to merge, already introduced to the investing public, with the absorption of INTRACOM PROPERTIES by the listed Ok.Λ.Μ. S.A., which will likely be renamed “EUROPI HOLDINGS S.A.”, in accordance with the provisions of Legislation 4601/2019, the company, inventory alternate and tax laws, the place the Absorbing “EUROPI HOLDINGS S.A.” will stay an organization listed on the A.A., and
b) additional enhance of the share capital of the brand new, ensuing from the merger, “EUROPI HOLDINGS S.A.”, with a money fee wherein the Vendor will take part with a purpose to purchase a proportion of no less than 10.3% of the ultimate share capital of “EUROPI HOLDINGS SA”, and
4. the rise of the share capital of “EUROPE INSURANCE”, by its sole shareholder, “EUROPE HOLDINGS S.A.”.
In help of the additional growth of “EUROPI ASFALISTIKI”, within the new Board of Administrators of the corporate, Mr. S. Kokkalis will assume the duties of Chairman of the Board of Administrators. with Mr. N. Makropoulos as Vice-President and CEO, sustaining his govt powers. The Firm’s intention is to appoint Mr. N. Makropoulos for the place of non-executive Chairman on the Board of Administrators of “EUROPI HOLDINGS S.A.”.
After the completion of the above transactions, INTRACOM HOLDINGS will stay the bulk shareholder of the listed “EUROPI HOLDINGS S.A.”. The above transactions are estimated to be accomplished inside 6 months from the approval of the Financial institution of Greece.
The investing public will likely be knowledgeable by the Firm on the course of the above transactions.
Supply: OT
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