Newsroom
The sale of Superhome Center DIY LTD to a Greek investor is moving forward, with the final deal expected to be concluded in the coming weeks.
Sources confirmed to Kathimerini that the Greek investor is set to acquire 100% of the shares in Superhome Center, with the transaction expected to be completed by mid-month. Despite the change in ownership, Superhome Center's management will remain unchanged, a company source told Kathimerini. The delay in finalizing the sale is due to procedural issues, but no other changes are expected at this stage.
The sale follows an announcement by Ermes Department Stores Plc, which owns 51% of Superhome Center, confirming that it had accepted an offer from the foreign investor. The transaction is valued at €94 million, minus a reserve of €13 million for potential future expenses and approximately €7 million in bank liabilities at closing.
On December 20, Ermes’ shareholders unanimously approved the sale, and the company's board of directors endorsed the decision. The announcement also clarified that no final decision has been made regarding the liquidation or sale of Ermes’ stake in the company.
In a statement issued last week, Ermes emphasized that it would notify authorities and the investing public if any new developments or formal agreements arise, in compliance with applicable laws.
