Lambrakis Press SA announces the acquisition of 49% of the subsidiary company Ellinika Grammata SA for an amount of 200.000 euros through the purchase of 13.867 shares owned by minority shareholders.
Ellinika Grammata SA, one of the oldest and largest publishing houses in Greece, was established in 1957 as a family business. Lambrakis Press SA first cooperated with the company in 2000 acquiring initially 49% of the company s share capital and in 2001 an additional 2% in 2002.
Currently Ellinika Grammata SA engages in all sectors of book publishing (scientific, literature, educational, university and children s books) and cooperates with eminent Greek and foreign writers, while expanding in collaboration with large international publishing houses to publish or license for Greece outstanding works.
By acquiring the company s minority shares, Lambrakis Press SA is the sole shareholder of the company holding 100% of the company s share capital. Ellinika Grammata SA is being fully consolidated in the financial statements of Lambrakis Press Group for a number of years. The acquisition of the minority shares offers the Management of the Group more flexibility in designing and applying the company''s strategy to best exploit both its position and competitive advantages in the Greek book market in order to improve gradually the company s financial standing and rationalize its capital structure.