Sarantis Worldwide

GR. SARANTIS SA announces that today, 23/12/2010, has sold its participation to K.THEODORIDIS S.A., (trade name “OTO TOP SA” and hereinafter the “Company”), a company trading in the distribution of car accessories.

The transaction amounts to 487 thousand Euros.

The Group's management came to this decision, because of the negative developments in the automotive market, the pourer, than expected Company’s performance and the Group's overall strategy for the disposal of non-core business activities.

In the financial statements of GR. SARANTIS SA, K. THEODORIDIS SA participated as follows:

Parent Company: investment cost € 1,714 thousand
Consolidated Balance Sheet: Equity € 1,660 thousand, bank loans € 2,250 thousand, and negative result € 177 thousand.

After this disinvestment, Sarantis Group will be focusing further on its strategic business plan.

PRESS RELEASE (68.1KB)

Sarantis Greece and AB Vassilopoulos Continue to Protect Biodiversity with the “Welcome Back” Initiative

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SARANTIS Group
26, Amaroussiou - Halandriou Street
151 25 Maroussi, Athens, Greece
Tel: +30 210 6173000
Fax: +30 210 6197081
e-mail: group-info@sarantisgroup.com

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