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Souriadakis Tsibris advises Virtus International Partners (V.I.P.) in its subsidiaries contribution to Ideal Group.

Souriadakis Tsibris announces that the first step in a groundbreaking transaction, has been taken.

On Friday, Ideal Group announced the details of an innovative transaction consisting of the Virtus South European Fund (VSEF) contributing its two subsidiaries, namely Astir Vitogiannis S.A. and Three Cents S.A., to the Ideal Group in a € 55 million capital increase.
The next challenges on the road to the successful setting up of an multi-shareholding, diversified holding group listed on ATHEX, involve the approval of the transaction by the Ideal Group shareholders, publication of a prospectus under the Prospectus Regulation, admission of the new shares for trading on the ATHEX market and submission of a mandatory takeover bid without a squeeze-out possibility being exercised.
Souriadakis Tsibris advised Virtus International Partners (manager of the VSEF) on this transaction.
The Ideal Group announcement is available here. More press reports can be found here and here.