KAYAK is restructuring its corporate structure by absorbing Financial Solutions & Franchise Company, in a transaction that values the ice cream maker at €17.58 million and reshapes its shareholder structure.
The merger plan, approved by the boards of both companies on 5 November and filed with GEMI on 6 November, provides for all of Financial Solutions’ assets and liabilities to be transferred to KAYAK. The stated aims are to consolidate the corporate structures, reduce operating and administrative costs, and make better use of the assets.
Before the merger, KAYAK’s largest shareholder is Elysian Holding, with 39.67%, followed by Halcyon Equity Partners with 30.61%, Sirius Holdings with 17.93% and Stylianos Xenakis with 11.79%.
In the company being absorbed, Financial Solutions, by contrast, Savvas Stavridis, KAYAK’s chairman and chief executive, holds 56.23%, Salome Stavridou holds 26.77% and Stylianos Xenakis owns the remaining 17%.
Once the merger is completed, Savvas Stavridis will acquire a direct 1.11% stake in KAYAK and Salome Stavridou a 0.53% stake, while Stylianos Xenakis’s holding will rise to 11.90%. Elysian will retain its position as the largest shareholder with 38.89%, while Halcyon’s stake will edge down to 30% and Sirius’s to 17.57%.
Financial Solutions’ net assets, based on a valuation as of 30 April 2026, were set at €355,453. To absorb the company, KAYAK is to issue 534 new shares, equivalent to 1.98% of its share capital after the merger.
KAYAK’s share capital will increase by €16,020 to €809,070, while €339,433 will be recorded as share premium. No cash payment is envisaged for shareholders of the company being absorbed.
The €17.58 million valuation represents the agreed value of KAYAK for determining the share exchange ratio, not an acquisition price. The plan also provides for the seven employees of Financial Solutions to transfer to KAYAK with their employment rights preserved.