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12° Nicosia,
26 May, 2024
 

Easylyzi to buy Kotsovolos

PPC's intentions unclear regarding Kotsovolos purchase

Newsroom

The company Easylyzi is considering the acquisition of Kotsovolos. Easylyzi offers a comprehensive PaaS platform connecting businesses and consumers to a wide range of products on a subscription basis.

Through its platform, Easylyzi enables users to access high-quality products and services without ownership burdens, allowing them to enjoy product benefits while minimizing waste and maximizing resource utilization.

Customers will be able to find cutting-edge technology across various devices by selecting schedules and products that suit them best. The company aims to provide innovative services that assist Greek consumers in their daily lives.

With the goal of becoming Greece's first circular economy company, Easylyzi is examining the requirements for acquiring Kotsovolos in partnership with a management company. The commitment is to safeguard the name, history, and thousands of employees' jobs.

It's noted that "Plaisio Computers" remained in the bidding process for Kotsovolos, while Quest is the only company that officially declares having submitted a non-binding offer for the acquisition through an announcement on the Athens Stock Exchange.

PPC (Public Power Corporation) remains silent about whether it has submitted or intends to submit an offer for Kotsovolos. The number and identity of those who will ultimately submit offers to Citigroup, which is overseeing the sale process, remains to be seen.

Finally, if the sale goes through, it will be the fifth time that Kotsovolos, established in 1950, will change ownership. The company's history began with Panagiotis Kotsovolos opening a small store in Athens in 1950. It underwent ownership changes over the years, with the most recent owner being Dixons. Today, Kotsovolos has 93 stores in Greece and three in Cyprus.

TAGS
Cyprus  |  electricity  |  Greece  |  technology  |  business  |  economy

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