In line with the decisions of the Annual General Meeting of its shareholders on the 29th of June, 2007, Elmec Sport S.A. announces the acquisition of the minority rights in its affiliated companies 'Factory Outlet S.A.', 'Factory Outlet Airport S.A.' and 'Ipirotiki S.A'
In detail Elmec Sport
- Acquired the 39,76% of the minority rights of the company 'Factory Outlet S.A.' which has its legal seat in the Municipality of Piraeus and manages the discount department store ''Factory Outlet'' at 76 Peiraios Av. in N.Faliro
- Acquired the 9,1 % of the minority rights of the company Factory Outlet Airport S.A., which has its legal seat in the Municipality of Paiania and manages the second discount department store 'Factory Outlet' in the commercial park of the Athens International Airport
- Acquired the 15,6 % of the minority rights of the company 'Ipirotiki S.A' which owns the major part of the building of the former department store 'Minion' in the Patision street.
After the acquisition of the above minority rights, Elmec Sport will control directly and indirectly the 100% of Factory Outlet S.A., directly the 100% of Factory Outlet Airport S.A. and directly the 99,89% of Ipirotiki S.A. The remaining 0,11% is held by EFG Eurobank Ergasias S.A.
- For the acquisition of the above minority rights, as it has been approved by the Annual General Meeting of the shareholders on the 29th of June, 2007, and according to the provisions of Law 3156/2003 and Codified Law 2190/1920, a twenty million euros bond loan has been issued. The bond has 8-year tenor. The bondholder is EFG Eurobank Ergasias S.A, having as collateral, nominal shares of the company Factory Outlet S.A. with registration number 667/02/Β/86/41