CHR board backs Marinopoulos bid

The Board of Directors of Chris Cash & Carry Public Ltd decided at a meeting held on July 8 that the Public Offer bid made by Guedo Holdings Ltd for the acquisition of up to 100% of the issued share capital of Chris Cash & Carry Public Limited is fair and enjoys their backing.

The Board took into account the report of the independent experts Laiki Investments EPEY Public Co., which had earlier backed the deal as well as the fact that CLR, the issue advisors had revealed that more than 75% of the shareholders had tendered in their shares.

Guedo, which is 50.1% owned by Carrefour Marinopoulos S.A. and 49.9% owned by the majority owners of CHR, Andreas Andreou and Mrs. Vasiliki Andreou who control directly the 68.52% of the shares of CHR.

The Board of Directors clarifies that Andreas and Vasiliki Andreou did not attend the meeting of the Board of Directors.