AVE: Acquisition price for 40% share of Bazaar supermarkets worth between 22 and 32 mln euros

AVE group of companies provided clarifications regarding its agreement to acquire 40% of the Bazaar supermarket chain, in a stock exchange statement on Thursday.

Specifically, Greece-based AVE said that through its subsidiary Retail & More SA it had signed a non-binding memorandum of cooperation on June 13 with the shareholder of Bazaar SA for Retail & More to acquire 40% of Bazaar, at a price between 22 million euros and 32 million euros.

The price and all other terms of the agreement are under negotiation and will be finalized with a final, binding agreement within the next few months, when the legal, financial, and tax review of the company is completed, AVE said.  

 

 

(File photo) 

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