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Sfakianakis SA Merges with its Wholly owned Subsidiary, Personal Best S.A.


Thursday, 20 Dec 2012 09:24am EST 

Sfakianakis SA announced that the Board of Directors of the Company and its subsidiary Personal Best S.A. has decided the beginning of the process of merging the two companies, with absorption of the latter by the former, as a 100% subsidiary company, aiming to reduce the operating cost using the synergies and economies of scale that will arise and the more efficient management organisation. The date of the transformation balance sheet has been set at December 31, 2012. No new shares of Sfakianakis SA will be issued from this merger since the acquiring owns the entire share capital of the acquired company. The realization of the above merger is subject to the necessary consents and approvals of the relevant authorities. 

Company Quote

0.738
-0.183 -19.87%
22 Sep 2014