Caramondanis to acquire Greek Eternel
22/4/2002 10:39
The board of Caramondanis Bros Ltd. announced that it has signed a preliminary agreement/memorandum of cooperation with the Greek company Eternel EP, based in Iera Odos 107, Athens.
The said agreement/memorandum of cooperation signed provides for acquisition of 67% of the share capital of Eternel against the sum of 149.700 euro, payable in cash upon signing of the final agreement, which will depend on results of the due diligence, expected to be completed in about two months.
Eternel is a trading and distribution company of plumbing installation equipment and is expected to complete the range of products which the Caramondanis Bros branch offers, situated in the Melissia area near Athens.
The said agreement/memorandum of cooperation signed provides for acquisition of 67% of the share capital of Eternel against the sum of 149.700 euro, payable in cash upon signing of the final agreement, which will depend on results of the due diligence, expected to be completed in about two months.
Eternel is a trading and distribution company of plumbing installation equipment and is expected to complete the range of products which the Caramondanis Bros branch offers, situated in the Melissia area near Athens.
