Ideal Holdings presented its investment strategy in target companies, its financial dynamics and its portfolio.
According to Lambros Papakonstantinou, president of Ideal Holdings, after the divestment from Astir Vitogiannis, the listed company will have more than 130 million euros available for acquisitions of other companies, or for any other use. As he pointed out, IDEAL is a company that focuses on investment and value creation and aims to generate excellent returns for shareholders and increased cash available for subsequent investment moves.
The company remains in the IT sector with Byte Computers, Adacom, Ideal Electronics which is a strong company in the sector in terms of turnover and EBITDA and in the specialized retail sector after the acquisition of 100% of Attica Department Stores.
Astir
According to management’s analysis of the divestment from Astir, Ideal Holdings indirectly owns – through its wholly owned subsidiary SICC Limited – 100% of the share capital of ASTIR, which directly owns 74.99% of share capital of the company Coleus Packaging (pty) Limited (“Coleus”). Ideal agreed on 22.04.2024 the transfer of 22,800 registered shares of the ASTIR company, corresponding to 100% of its share capital, to the company Guala Closures, which after the completion of the transaction will be the sole shareholder of the ASTIR company and will indirectly own and 74.99% of Coleus. The agreement is expected to be completed in the second half of 2024.
Regarding the sale of Astir, the management of Ideal Holdings clarified that the value of 100% of the companies ASTIR and Coleus, which will form the basis for calculating the price of the transaction, was agreed at 136 million euros.
