October 4, 2023

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The acquisition of Attica Stores has been completed and begins the next day

The acquisition of Attica Stores has been completed and begins the next day

A deal worth 100 million euros acquisition to Attic stores from Ideal holding It should now be considered complete, according to market sources.

One of the largest agreements in recent years for the Greek market and especially retail trade, has been added to the assets of the listed holding company, which is now It expects annual sales of around €390-400 million, with EBITDA of more than €50 million. For 2023, with many possibilities for higher levels in the coming years.

There has been no information at all from the parties involved, but what is being said in market circles is that it is a sell deal Attica stores From long-standing shareholders to Ideal Holdings “done”.

In fact, the same sources reported this It is logical that the amount corresponding to this transaction has already been transferred/paidso loft stores automatically move into their new era, with what that means for the movements that will follow.

So, after that the stock market will be announced, once this information is officially confirmed New money. Essentially, the portion of Ideal Holdings’ acquisition of Attica Department Stores is over.

In the first phase, an AMC is now expected to take place within the next two weeks – with procedures scheduled – through which former shareholders of Attica Stores will be able He will get 17.6% Its perfectAs was confirmed at least during the previous period in the context of updates on the progress of implementation of the Grand Agreement, with the aim of reinvesting funds worth 35 million euros within the framework of the new scheme, in which they will participate.

The timetables determined by the Chairman of the Board of Directors of Ideal Holding, Lambros Papakonstantinou, were carefully observed, as not a single day was lost of the footnotes which had been given from the beginning. For a deal from idea to implementation It lasted 7 months “Under the market’s radar,” he continued..

The acquisition of Attic Department Stores appears to be capable of changing the realities in the clothing and footwear retail business, as the clock is now counting down to the start of implementing the new investment plan, with priority given to strengthening its store network. .

New business plan It focuses on the construction of new stores in Hellinikon (Vouliagmenis Mall, Riviera Galleria), with a time horizon of 2024, 2025 and beyond.

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Acquisition of Attica Department Stores Lambros Papakonstantinou Ideal Stores Satica Holdings