The Khronicles
A division of
Ko-Go Επιχειρήσεις
Box 328
Kokkini Hani 71500
Web address: www.ko-go.gr
editor@ko-go.gr
Telephone: 2810-762748
Fax: 2810-762816
Publisher:
Sofia Klidi
Editor:
Lou Duro
Associate Editors:
Tony & Christine Bowes
Contributors/
Columnists:
Renie Spykerman, Petra Koukoudaki, Maria Daskalaki, Chryssa Tzortzaki, John McLaren, Bob Bayes, Father Dimitris Mihouthis,
Father Leonidas Hatzakis, Vasiliki Alexaki-Hronaki
Translations:
Ada Vamvoukaki
Photographer:
Sami Moudavaris
Layout & Design:
Graphic Plus
Printed By:
TypoGrammi
Webmaster:
John McLaren
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FINANCIAL NEWS
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Titan Cement Unit Acquires Ready Mix Company
According to a company spokesman,
Greece's Titan Cement Corporation announced that its subsidiary, Interbeton
Construction Materials, has signed an agreement to acquire 100 percent of
Domiki Kritis, a ready-mix cement company based in Iraklion, for an
unspecified amount.
In
the announcement, Titan said that the shares will be transferred this month
and that it will undertake management of Domiki Kritis immediately after
formal completion of the deal
“The acquisition is not expected to
materially affect Titan Group financial statements,” the spokesman said.
Domiki Kritis owns ready-mix cement
plants in Crete, and reported a turnover in
2006 of more than 11 million euros.
While its
principal activities are the production and trade of concrete and similar
products, it also undertakes road, electro-mechanical, port, hydraulic and
all other technical works for the public and private sectors.
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Greek Eurobank Eye Polcard
Greek EFG Eurobank is interested in
buying a controlling stake in
Poland’s largest credit-card and cash-card
company, Polcard SA, from American company GTech, according to sources close
to the situation.
GTech controls 74.43 percent of
Polcard SA, which represents Visa, MasterCard and Diners Club in the local
market. It acquired Polcard in 1990 and hired Credit Suisse to assist the
company in finding a buyer as Polcard no longer fits in with its business
strategy, the sources said.
However, there are other banks in Europe which also expressed interest in obtaining Polcard,
according to the sources, but they did not elaborate.
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Forthnet on the block?
GO plc, formerly
Malta’s telecommunications corporation Maltacom, is in
talks to buy 20 percent shareholding in
Forthnet, Greece’s second-biggest Internet
company, it was announced recently.
The Maltese telephone and Internet
Company is negotiating with three companies, Cycladic Master Fund, Novator
Equities Ltd and founding shareholder Crete-based Foundation for Research
and Technology, or ITE, on the deal.
If it succeeds, the sale would make
GO, controlled by state-owned Dubai Holding LLC through its Emirates unit,
the single biggest shareholder in Forthnet.
A 20 percent stake in Forthnet would be valued at about 74.6 million euros,
based on recent share prices.
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