Paiania, October 19, 2021 - The Société Anonyme with the corporate name "INTRACOM S.A. HOLDINGS " (d.t. “INTRACOM HOLDINGS”) announces that its subsidiary, by 82.64%, company under the name “INTRADEVELOPMENT SOCIETE ANONYME OF REAL ESTATE DEVELOPMENT(d.t. “INTRADEVELOPMENT”) has executed on 18.10.2021 a binding agreement with the company "AMICROSS LTD ", for the sale and transfer of the total number of its shares in the company “Devenetco Ltd”, i.e. 50% .
“Devenetco Ltd”, through its subsidiaries, owns real estate properties at “Kalo Livadi”, Mykonos, over which a project of hotels and villas is under development.
Completion of the transaction is subject to terms and conditions precedent and is contemplated to be effected until 30.11.2021. The main transaction consideration was agreed at the amount of € 28,500,000. The final consideration will be confirmed in accordance with the terms and conditions contemplated in the said binding agreement.
Investment public shall be informed by INTRACOM HOLDINGS regarding the progress of the transaction.
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