![ION: Extraordinary General Meeting and the percentages of Spyros Theodoropoulos](https://www.ot.gr/wp-content/uploads/2022/06/ion-600x450-1.jpg)
Two general shareholders meetings of ION SA Cocoa and Chocolate Industry and Trade Company have been scheduled for tomorrow, Thursday 30 June and the day after tomorrow, Friday 1 July.
The one and only issue that will concern the extraordinary general assembly is about “the approval and granting of a license for the sale of shares owned by the company to related parties – the provision of authorizations.”
Read also: Spyros Theodoropoulos: Breaking the bank – What the acquisition of ION brings
With Bespoke SGA Holdings belonging to interests of Spyros Theodoropoulos having already secured the approval of the Competition Commission (the independent authority approved the “acquisition of sole control” of both ION and its subsidiary “I. Kotsiopoulos Bros. Societe Anonyme Commercial SA”), the market is awaiting developments after the transfer of 45% of the shares of ION.
Read also: Hellenic Competition Commission approves ION chocolate manufacturer buyout
In particular, everyone is waiting to see if Bespoke will exercise the option to increase its stake. It is recalled that in the official announcement of the acquisition of 45% of the emblematic chocolate industry by Spyros Theodoropoulos, it was mentioned that the real estate businessman “in the future will be able to acquire their majority” (of ION shares).
Market information wants Kotsiopoulou’s side to have agreed to sell up to 75% of the company to Mr. Theodoropoulos, a fact that remains to be confirmed or disproved in the near future.
As for the regular General Assembly of the chocolate industry on Thursday, June 30, the usual items are also included on the agenda, such as the approval of financial statements, profit distribution, etc.
INTERION and cash payment to Bespoke
Meanwhile, much earlier than planned, part of the company’s share capital was paid by Bespoke shareholders.
Last Friday the shareholders paid on time an additional 70 million euros in cash to Spyros Theodoropoulos’ new holding company and the group of executives that support him, increasing the total share capital of the company to 105 million euros. The payment of 35 million euros is now pending in order for the total share capital to be completed, as provided in the articles of association, at 140 million euros.
It is recalled that the initial planning of the new company provided for the payment of 35 million euros and the partial payment of 105 million euros in four installments of 26.25 million euros (one each year until the end of 2026).
At the same time, on May 19, the company INTERION HELLAS SA was established with an initial share capital of 200 thousand euros, for the purpose of wholesale and retail trade in sugar. The newly established company transferred the headquarters from Chalandri to Metamorfosis in the previous days (23/6) and is legally represented by Manolis Skaramagkas.
The company is said to be affiliated with its ION subsidiary in Bulgaria INTERION A.D. which is located in the city of Kostinbrod and produces Nucrema products under the ION brand.
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
Latest News
![ELSTAT: 1.5% Increase in Business Turnover in May 2024](https://www.ot.gr/wp-content/uploads/2024/07/epixeiriseis_2-600x414.jpg)
ELSTAT: 1.5% Increase in Business Turnover in May 2024
The most significant increase in turnover in May 2024 compared with May 2023 was recorded from the enterprises of the Accommodation and Food Service Activities, sector which grew by 14.8%.
![Cosco: Container Traffic Decline at Piraeus Port Continues](https://www.ot.gr/wp-content/uploads/2024/07/olp1-scaled-1-2048x1312-1-600x384.jpg)
Cosco: Container Traffic Decline at Piraeus Port Continues
This strategic shift has diminished Piraeus's standing as a prominent Mediterranean port and a key transshipment hub post-Suez Canal.
![Gov’t Eyes Return of Power Subsidies Amid Spike in Rates](https://www.ot.gr/wp-content/uploads/2024/07/power-lines-2048x1365-1-600x400.jpg)
Gov’t Eyes Return of Power Subsidies Amid Spike in Rates
According to reports, the government will resume an electricity subsidization program, given that forecasts cite disruptions – i.e. higher rates
![ELSTAT: 6.3% Increase in Output Price Index for Agriculture and Livestock](https://www.ot.gr/wp-content/uploads/2024/07/ot_georg_PROIONTA_money-1-600x352.png)
ELSTAT: 6.3% Increase in Output Price Index for Agriculture and Livestock
The 6.3% rise in May 2024 is largely driven by an 8.8% increase in the crop output group, particularly due to changes in olive oil prices, and a 0.5% increase in the animal output group.
![Balkans Blackout Highlights Climate Threats to Power Grids](https://www.ot.gr/wp-content/uploads/2024/07/blackout-1-600x457.png)
Balkans Blackout Highlights Climate Threats to Power Grids
The surge in electricity demand during the heat wave and the power deficit in Balkan markets have driven up prices in the Greek wholesale electricity market.
![Greece in Top 4 Destinations Favored by European Tourists](https://www.ot.gr/wp-content/uploads/2021/06/ploio-600x400.jpg)
Greece in Top 4 Destinations Favored by European Tourists
Greece was selected by 5.9% of respondents who were asked where they would vacation this year, up from 5.4% in the same survey last year
![Scope Affirms Greece’s BBB- Ratings; Revises Outlook to Positive](https://www.ot.gr/wp-content/uploads/2024/06/euros-2048x1365-1-600x400.jpg)
Scope Affirms Greece’s BBB- Ratings; Revises Outlook to Positive
The international ratings firm raised Greece to investment grade in early August 2023
![First Seaplane Test Flights to Skopelos, Alonissos, Skyros](https://www.ot.gr/wp-content/uploads/2024/06/hellenic-seaplanes-pilotikes-ptiseis-ydatino-pedio-lavriou-600x450.jpeg)
First Seaplane Test Flights to Skopelos, Alonissos, Skyros
After decades of on-again, off-again efforts to schedule regular seaplane routes to Greece's numerous island and coastal destinations the prospect now appears within sight
![ELSTAT- Overall Import Price Index for May 2024 up 2.8% y-o-y](https://www.ot.gr/wp-content/uploads/2023/08/unnamed-41.jpg)
ELSTAT- Overall Import Price Index for May 2024 up 2.8% y-o-y
The same price index had decreased 20.8% from May 2022 to May 2023
![Over 7 in 10 Employees Feel Their Contributions Are Not Appreciated](https://www.ot.gr/wp-content/uploads/2024/06/ergasia-ergazomenos-600x300.jpg)
Over 7 in 10 Employees Feel Their Contributions Are Not Appreciated
Specifically, the option "Subjective opinions are prioritized over objective data" ranked highest in importance for young employees, with a score of 3.89 out of 4