AUTOHELLAS acquires 70% of HYUNDAI HELLAS & AUTODEAL (KIA)

Completion of the share capital increase with simultaneous reduction of the loan liabilities of the two companies.

Kifissia, December 22, 2017

Following the Extraordinary General Meeting decision of 06.09.2017, AUTOHELLAS announces that on 22 December 2017 the acquisition of control of 70% of the companies "AUTODEAL P&R DAVARI SA" (KIA) and "HYUNDAI HELLAS P&R DAVARI SA" (HYUNDAI) was completed through the participation of DERASCO in the share capital increase of these, a company which is 100% subsidiary of AUTOHELLAS.

The total investment in the above increases amounts to twenty million euros (€ 20,000,000). This investment will enable the Companies to maintain and strengthen their internal organization, further improve customer service, and support and develop their network.

The remaining 30% of the aforementioned companies remains the property of Mr. P. Davaris who maintains the position of the Chairman of the Board of Directors of the two companies to reinforce the new joint effort. The new Managing Director of the two companies will be Mr. G. Vassilakis.

The share capital increases of AUTODEAL and HYUNDAI HELLAS took place within the framework of the restructuring agreements dated 28.12.2016, which were validated by the decisions 633/2017 and 632/2017 of the Multi Member First Instance Court of Athens. Upon completion of the aforementioned transaction, total bank liabilities from the past decreased to € 20 million.

This investment enriches and significantly enhances the product portfolio and the potential of AUTOHELLAS Group's penetration into the car market. A market that has suffered and has been significantly reduced, more than 70%, during the Greek economic crisis, but which with the gradual stabilization of the economy can have significant growth in the future.