The Board of Directors of HDFS S.A. announces that during its meeting on 05.10.2007 unanimously approved the acquisition of 28,718,770 shares of ELMEC SPORT S.A., namely 51.84% of its share capital from the company HOMERIC DEPARTMENT STORES S.A., controlled by the Laskarides group of companies, for the price of Euro 4.0 per share.
The above stake is the total participation of HOMERIC DEPARTMENT STORES S.A. in ELMEC SPORT S.A. and the transaction of the amount of Euro 114,875,080 will be completed today.
Following the above transaction the Company will proceed with all the required actions including the notification to the Competition Committee and the submission of an obligatory public offer.