The three interested parties in the Avramar Group are expected to be invited to submit binding offers by September 20.
As long as no additional extension is granted, it is estimated that the preferred investor may be announced in the first ten days of October.
According to “Naftemporiki” sources, the discussions between banks and the three companies, the Spanish Atitlan, the Aqua Bridge Group from the Emirates, and the Greek interest investment fund Diorasis (the main shareholder of Philosofish), focus on the whole entity of Avramar. At the present stage, the process continues in VDR, with the three interested investors requesting additional information on its financial situation, while they have also made selected visits to Avramar’s units.
Maintaining a tight schedule in the bidding process is considered crucial, as the current situation for Avramar’s group is difficult and limited liquidity cannot ensure the smooth operation of the company for more than one or two months.
A key condition for the next day of the group is the binding proposals to be submitted to provide for a brave amount of funds, over 100 million euros, in order to ensure a sustainable rescue.
