CCCH bids for K&G Complex

CCC Holdings & Investments has expressed the interest to submit a bid seeking to acquire the 100% share capital of K&G Complex at 10 cent in cash.

CCCH, related parties and Board members currently control 52.21% of the share capital of CCCH and in effect they are seeking to acquire the remaining 47.79% of K&G, valuing the deal at CYP 4.8 mln.

According to Financial Mirror data, the bid price is at a significant discount to the book value of K&G, estimated at 17 cent per share, but at a 100% premium to the CSE price of 5 cent, before the bid interest was expressed.