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Transaction / Assets Land in LoutrakiSeller ETAD SABuyer FULGOR SA€ MM
Public Properties Company reached an agreement with FULGOR SA
The Greek Public Properties Company (ETAD SA) announced the signing of the contract with FULGOR SA Hellenic Cable Industry for the sale of a property at Loutraki, in Corinthia.
The property borders the existing operating industrial unit of FULGOR SA, which aims to expand the production, sales, and to increase employment in the region. FURGOR announced a recruitment program after the acquisition of the property.
Despite the difficulties caused by the pandemic crisis, ETAD SA has completed all necessary procedures for the mutually beneficial agreement.
FULGOR had initially expressed interest in the property since 2012. The first discussions did not end well and the interest was renewed in 2018 but again there was no response from the Greek State.
The new management of ETAD SA completed the procedures and reached an agreement within a short time.
Original Source: Capital
Adaptation/Summary: Kiki Athanasiadis