ANNOUNCEMENT
Under the current legislation AUTOHELLAS Τourist and Τrading Company informs its investors and shareholders for the following:
AUTOHELLAS Τourist and Τrading Company, which indirectly through its subsidiary AUTOTECHNICA HELLAS S.A., holds 50% of ELTREKKA SA, has agreed to increase its direct and indirect participation in ELTREKKA SA to 100% of the share capital, by acquiring from the other shareholder, ELTRAK SA, the remaining 50% which accounts for the total shares held by the latter including those that will arise after the imminent capital increase.
The agreement is subject to the approval of the Hellenic Competition Commission and to the usual provisions for corresponding transactions.
The shares will be transferred for a symbolic price and Autohellas SA, after the coverage of the capital increase of 7 million Euro by Eltrak SA, which will take place before the completion of the transaction, will undertake the guarantees of the remaining -following the share capital increase- debt of Eltrekka SA.
The full control of Eltrekka SA by Autohellas Group, is estimated to increase synergies with the Group's auto - trade sector, which has already achieved, during the last two years, a significantly increasing growth potential.
The Company thanks Eltrak SA Group, for the so far outstanding 15-year shareholder cooperation in Eltrekka SA.