It seems that the new and ambitious project of Sokratis Kokkalis is in the final stretch, as he is preparing to implement the promising venture of Europa Holdings in the coming days, a company that will operate in two sectors – insurance and real estate.
The businessman, who has been active in the Greek market for almost five decades, mainly through Intracom Holdings, but also Intralot, Kekrops, Intrakat, and others, has a specific timetable (starting on 28/4 with the ex-rights and ending on 26/5 with the listing of the new shares on the Athens Stock Exchange) with pre-decided steps, which will result in a Share Capital Increase of 68.3 million euros and the total transformation of Europa Holdings, which is the successor to the formerly listed Kloukinas-Lappas.
17-million-euro acquisitions
The funds from the share capital increase will be used to complete the acquisition of Europa Insurance (16.5 million euros), strengthen the regulatory capital of the insurance arm (28 million euros), increase working capital (5.8 million euros), and also acquire new companies from the insurance sector (17 million euros).
On the next day of Europa Holdings, Sokratis Kokkalis will indeed be the absolutely dominant “player”, but with a clearly reduced participation percentage, as he will see his share limited to approximately 40% (from the current 66%).
As is already known, approximately half of the 26% will be transferred to the founder of Europa Holdings, Nikos Makropoulos, who will also have a significant presence in the new structure, while the remaining percentage will be allocated to new investors (in addition to the shipowner Moundreas, who will retain a percentage of at least 8.5%), further expanding the list of powerful names that are joining forces with Kokkalis.
