ΕΤΕΜ Commercial and Industrial Light Metals S.A., whose majority stakeholder is Elvalhalcor, will merge with Cosmos Aluminium through the absorption of the former by the latter, Elvalhalcor announced on Tuesday in a briefing to investors and markets.
The issued statement, posted on the Athens Stock Exchange’s (ATHEX) website, reads:
“ELVALHALCOR HELLENIC COPPER AND ALUMINIUM INDUSTRY S.A.” (hereinafter “ELVALHALCOR”) announces, according to article 17 par. 1 of the Regulation (ΕU) No 596/2014 of the European Parliament and of the Council of 16 April 2014, that on November 6th, 2022, the non-listed company under the trade name «ΕΤΕΜ Commercial and Industrial Light Metals Societe Anonyme» (hereinafter «ΕΤΕΜ»), which is held by 80 percent by ELVALHALCOR, and the company under the trade name «COSMOS ALUMINIUM S.A.» (hereinafter «COSMOS ALUMINIUM»), have signed the “1st Addendum to the Basic Terms of Cooperation dated May 6th, 2022” (hereinafter the «Addendum») to the strategic cooperation agreement dated May 6th, 2022, having as subject matter the basic terms, under which the contracting parties, ETEM and COSMOS ALUMINIUM, intend to proceed to the merger by absorption of ETEM by COSMOS ALUMINIUM (hereinafter “Strategic Cooperation Agreement”). It is reminded that according to the Strategic Cooperation Agreement, as a result of the corporate transformation, there will be a minority stake in the share capital of COSMOS ALUMINIUM, of the shareholders of ETEM existing at the time of conclusion of the merger.
According to the Addendum the contracting parties continue the negotiations for the finalization of the terms of the above intended transaction and the conclusion of the final agreements, while the basic terms of cooperation of the Strategic Cooperation Agreement will last until:
i) the signing of the final documents by the contracting parties, or
ii) December 31st, 2022, or
iii) receipt of written notification by one of the contracting parties, ΕΤΕΜ or COSMOS ALUMINIUM, for the non-continuation of actions for the intended transaction from the other contracting party, COSMOS ALUMINIUM or ΕΤΕΜ, whichever of the above comes first.
ELVALHALCOR will inform the investor community on any significant development.”
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
Prominent Greek Publisher Antonis Lymberis Passed Away at 71
Widely regarded as one of the most influential figures in the Greek media landscape, Lymberis reshaped the country’s publishing sector with his inventive approach to the press and mass media
Greek Retailers Extend Hours for Black Friday Weekend
The President of the Athens Commercial Association encourages consumers shopping during Black Friday and Cyber Monday (Dec. 2) to support Greek small and medium-sized businesses.
PM Mitsotakis Highlights Balanced Budget in Weekly Social Media Review
The prime minister highlights the budget's fiscal responsibility, as it is nearly balanced.
2025: A Pivotal Year for Real Estate in Greece
For apartments in major cities, price increases have so far remained below 11%, with even smaller gains for properties overall.
SYRIZA Votes for New Leader: A Pivotal Moment Amid Challenges
Whether the left-wing’s central efforts to reorganize and connect with regional members have borne fruit, will ultimately be revealed by the election numbers.
Greek Government Targets Record Investment Program and Tax Relief for Middle Class
The digitalization of transactions and measures introduced by the Ministry of Finance, such as the imputed taxation of professionals, generated an additional 1.8 billion euros.
Kasselakis Reveals Name of New Party: ‘Movement for Democracy’
Arriving at the venue, Kasselakis greeted his supporters warmly, saying, “You became the movement, and today we become a party.”
PM Mitsotakis on TikTok on ‘Gigabit Voucher’ Program
The "Gigabit Voucher" program will provide an array of benefits for households and small businesses, as Mitsotakis pointed out in his video post.
Presidential Decree Downgrading Art School Degrees in Question
The Council of State has challenged a presidential decree downgrading art school degrees, citing constitutional violations
Stormy Winds and Thunderstorms, as Cold Snap Hits Greece
Special units from the electricity distribution network HEDNO are working to restore damage caused to electric poles after trees fell on them due to the strong gusts in Preveza.
![Οικοδομικά υλικά: Αύξηση 5,5% τον Οκτώβριο – Ποιες κατηγορίες είχαν διψήφια αύξηση [πίνακς]](https://www.ot.gr/wp-content/uploads/2023/04/ERGATES-KATASKEVES-90x90.jpg)
