Boutari Holding SA has agreed to sell 21,46% of Mythos Brewery SA shares to Scottish & Newcastle Plc. At the same time, Boutari Holding S.A. has agreed to buy the remaining 7,07% of Mythos Brewery S.A. shares from Piraeus Bank and Alpha Bank. After the completion of all transactions Scottish & Newcastle Plc will hold 68% of Mythos Brewery SA and Boutari Holding S.A. will hold the remaining 32%.

The transaction price between Scottish & Newcastle and Boutari Holding is totalling euros 8,4 mil., out of which euros 4,8 mil will be paid in cash and the remaining euros 3,6 mil. will be paid in three annual instalments subsequent to the growth of Mythos Brewery?s net sales. The transaction between Boutari Holding and the Banks totals euros 1,88 mil.

Boutari Holding and Scottish & Newcastle have also agreed to transfer the euros 4,4 mil Bond issued by Mythos Brewery SA from the former to the later at its face value.

Following the completion of the deal Mr. Constantine Boutari assumes the position of the non-executive Chairman of Mythos Brewery SA, while Mr. John Kamviselis assumes the position of Managing Director Commenting the deal Mr. Constantine Boutari, President & Managing Director of Boutari Holding said:

'Τhis agreement will ensure the continuous and undisrupted development of Mythos Brewery in Greece and abroad, as it ensures the full support of Scottich & Newcastle. It also proves the commitment of Boutari Group to Mythos Brewery and the potential of its products'

Commenting on the agreement John Nicolson Chairman of S&N Greater European businesses said:

'This increase in our stake in the Mythos business reflects our long term commitment to the Greek market. Our aim is to further establish our position as a strong number two in the market built around the Mythos brand, and S&N?s international portfolio. The appointment of John Kamviselis, who has wide experience of several international drinks markets adds strength to our management team. I am also pleased that Constantine Boutari, our joint venture partner has agreed to become Chairman; his experience and knowledge of the Greek market will be valuable in the ongoing development of the business.'