Delta buys into Christis

Delta Symmetochon (VIVARTIA) and Cyprus Trading Corporation Public Ltd along with the Shacolas Group, reached a non binding agreement (Letter of Intent) for the sale to Delta Symmetochon of 25 mln shares (or 45.8%) approximately, of Christis Dairies Public Ltd, a Company listed on the Cyprus Stock Exchange, for 30 cents per share.

The deal is valued at CYP 7.5 mln or EUR 13 mln and is subject to a financial and legal audit, which will take place prior to any possible final agreement. Such agreement will be conditional on securing the required administrative permits.

In case that the agreement for the sale to Delta Symmetochon is finalised, Delta will submit a Public Offer under Cyprus Law for the acquisition of the whole share capital of Christis Dairies Public Ltd.