Cenergy Holdings SA -a non-listed Belgian subsidiary of Viohalco SA- on Monday announced a cross-border merger agreement through the absorption of Korinth Pipeworks Holdings and Hellenic Cables Holdings. The merger will be completed under the Belgian, Greek legislations and an EU regulation on cross-border mergers of capital companies. Cenergy Holdings, Korinth Pipeworks Holdings and Hellenic Cables Holding have no production activity.
Transformation date was set for July 31, 2016. The boards of the three companies will define a recommended share swap rate. RSM Greece and Mazars Advisory Services will act as financial advisor and independent expert in preparatory actions.
The cross-border merger will be made based on the book value of merged companies and interim financial reports on July 31, 2016. After completion of the merger, the shareholders of merged companies will swap their shares for Cenergy Holdings shares which will be listed in the Euronext market in Brussels and for a secondary listing in the Athens Stock Exchange. The share swap rate for Korinth Pipeworks will be one for one with Cenergy Holdings, while Hellenic Cables shareholders will exchange 0.447906797228002 shares for one share of Cenergy Holdings. The completion is expected to be completed by December 2016.
Read more here.
RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations , Greek travel market, Greek tourism statistics, Greek tourism report
