Following our announcement dated July 24th 2006, we inform the investment community that VIVARTIA S.A. signed the final agreement for the acquisition of a 46% stake in CHRISTIS DAIRIES PUBLIC LTD, owned by CYPRUS TRADING CORPORATION PUBLIC LTD and other shareholders, for a price equal to CYP 7.298.078, hence CYP 0.29 per share times 25.165.786 shares.
Based on the published financial statements of CHRISTIS DAIRIES PUBLIC LTD as of 30th June 2006, total assets of the company amount to CYP 26.1mil., with shareholders'' equity of CYP 15.7mil. For 2005, total turnover of the company stood at CYP 25,2 mil. and EBITDA amounted to CYP 1,8 mil.
The transaction is subject to the approval of the Competition Protection Authority of Cyprus.
Upon the completion of the transaction, VIVARTIA S.A. will also announce its intention for a public offer for the total shares of CHRISTIS DAIRIES PUBLIC LTD at the same price per share in compliance with the local stock exchange laws.