Intracom Holding Company: An agreement with Makropoulos to acquire the “Europe Insurance” company – Economic Post

Intrakom officially announced the European acquisition agreement, confirming the deployment of the OT.

The value of the deal is 46.55 million euros

In particular, in a complex agreement, Intracom Holdings, which is the sole shareholder of Intrakom Properties, but also a shareholder of Kloukinas – Lappas (KLM):

• Partial acquisition of 100% of Europa Insurance Company by Intercom Real Estate
• Merging Intacom properties with KLM and renaming KLM to Europe Holdings
• Entry of private sector capital investors into the new system.

Approval should be taken for granted, and the deal is expected to be completed within the next six months.

Sokratis Koukalis and Nikos Makropoulos are expected to lead the team.

Kokkalis will serve as President and Makropoulos will be appointed Managing Director.

Company announcement

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– INTRACOM HOLDINGS (ATHEX: INTKA) (the Company), the sole shareholder (100%) of the joint-stock company “INTRACOM PROPERTIES, MONOPROSOPI ANONYMI TEIREIA” (n.d. “INTRACOM PROPERTIES”) and the shareholder of the joint-stock company “I.KLOKINAS – I. LAPPAS TECHNICAL AND COMMERCIAL COMPANY (the entity “KLM SA”), directly by 27.60% and indirectly by 60.12%, through “Intracom Real Estate”, announced the signing of a contract on 05/29/2024 on a binding memorandum of agreement – a framework between the company , a subsidiary of INTRACOM PROPERTIES and Mr. Nikolaos Makropoulos (Seller), the sole shareholder of the limited liability insurance company “EUROPE INSURANCE SOLE INSURANCE COMPANY ANONYMOUS GENERAL COMPANY INSURANCE” (date “EUROPE INSURANCE”), to define the basic terms of a series of individual transactions that will be concerned With the following:

1. Partial acquisition (initially of the 65% and subsequently of the remaining 35%) by “INTRACOM PROPERTIES” of all the shares of the above-mentioned insurance company from the seller, for a total price of €46,550,000 (of which €30,000,000 relates to the purchase of the 65% and €16,550,000 to the purchase of the 35% The remaining completion of the above transfers is subject to the fulfillment of certain conditions, including, among others, the relevant approval of the Bank of Greece.

2. The entry of new investors into KLM SA through the acquisition of the percentage (27.60%) that the company owns in the above-mentioned company through a private placement, and its additional participation in Intracom Real Estate Company through a capital increase.

3. Directing the procedures required for implementation:

a) Merger intention, already announced to the investing public, with the absorption of INTRACOM PROPERTIES by the listed company K.Λ.Μ. SA, whose name will be changed to “EUROPI HOLDINGS SA”, in accordance with the provisions of Law No. 4601/2019, corporate, stock exchange and tax legislation, whereby the absorbed company “EUROPI HOLDINGS SA” will remain an AA listed company, and

b) An additional increase in the capital of the new company resulting from the merger of “EUROPI HOLDINGS SA” with a cash payment in which the seller participates in order to obtain a percentage of not less than 10.3% of the final capital of the company “EUROPI HOLDINGS SA” and

4. Increase in the capital of “EUROPE INSURANCE” by its sole shareholder, “EUROPE HOLDINGS SA”.

To support the further development of “EUROPI ASFALISTIKI”, in the new Company Board of Directors, Mr. S. Kokkalis will assume the duties of Chairman of the Board of Directors. With Mr. N. Makropoulos as Vice President and CEO, while maintaining his executive powers. The company intends to nominate Mr. N. Makropoulos to the position of Non-Executive Chairman of the Board of Directors of EUROPI HOLDINGS SA.

Following the completion of the above transactions, INTRACOM HOLDINGS will remain the majority shareholder of the listed EUROPI HOLDINGS SA. It is expected that the above transactions will be completed within 6 months of approval by the Bank of Greece.

The company will inform the investing public of the progress of the above-mentioned transactions.