The company “PETROS PETROPOULOS S.A.I.C.” (hereinafter the “Company”) informs the investment community that it has signed a “Memorandum of Agreement”, concerning the potential full acquisition (hereinafter the “Acquisition”) of the business activity of vehicle sales and the provision of vehicle repair and support services of the company “ANTONIOS ISMAILOS REPRESENTATIONS IMPORTS AUTOMOBILE TRADE SOCIETE ANONYME” (“A. ISMAILOS S.A.”), an authorized Mercedes-Benz vehicle distributor and repairer in Attica since 1990, including its 100% subsidiary, “ISMAILOS REPRESENTATIONS AUTOMOBILE TRADE SINGLE-MEMBER SOCIETE ANONYME” (“ISMAILOS M.S.A.”), an authorized Toyota vehicle distributor and repairer in Greece since 2025 (hereinafter the “Business Activity”).
The (consolidated) sales revenue of the Business Activity for the year 2025 amounted to 124,350,000 euros. The Acquisition is part of the Company’s strategic expansion in the sector of retail trade and the provision of vehicle maintenance (service) services.
The finalization of the Acquisition agreement as well as its actual completion are subject to the following conditions:
a. successful completion of the ongoing financial and legal due diligence of the above company and its subsidiary,
b. obtaining all required consents and approvals, including obtaining the consent of the suppliers of the above companies, as well as c. subject to obtaining any approval that may be required from the Competition Commission.
The value of the Acquisition has been estimated at twenty-one million Euros (€21 million), subject to any findings of the above audit.
Upon the successful completion of the audit, the exact method of carrying out the Acquisition will also be determined.
The Company will inform the investment community of any significant development in accordance with the applicable regulatory framework.
This announcement is issued in accordance with Regulation (EU) 596/2014 of the European Parliament and of the Council of 16 April 2014, as amended and in force.