ΠΑΠΑΣΤΡΑΤΟΣ Α.Β.Ε.Σ.
Announcement of Papastratos S.A. regarding the share sale agreement betwen prnincipal shareholders of the company and 'Philip Moris Holland B.V.(the Purchaser)
Following the initial announcement of 06.05.03 and on the basis of the results of business, financial and legal due diligence of the Company, the Vendors and the Purchaser have agreed that the purchase price to be paid by the Purchaser to the Vendors will be euros 18.02 or euros 17.97 per share, depending upon a final agreement on the valuation of certain real estate owned by the Company. It is noted that Completion of the acquisition continues to be subject to, among other things, obtaining the necessary approvals from the competent competition authorities.