The case of the sale of the Avramar group to Aqua Bridge seems to be unfreezing slowly after significant delays.
Avramar’s financial statement for the fiscal year 2023 were published yesterday to the General Commercial Register (GEMI), where in addition to the liabilities exceeding 525 million euros and losses, they reported that the period of suspension of payment of loan obligations related to the interim financing of 20 million euros, which was received between April-July 2024, expires on April 30, 2025.
In fact, this is an informal extension of the deadline that initially expired in October 2024.
According to “N” sources, a new request has been made or is expected to be made to extend the stand-still period to credit institutions for another six months.
However, the same sources said that some activity has been recorded lately, after a month when the procedures seemed to have “frozen.”
As for Aqua Bridge, in early 2025, the CEO of the Arab group, Mohammad Tabish, officially confirmed the acquisition of Avramar through his Linkedin account. This is the only official statement on the matter, as no Sales and Purchase Agreement has yet been signed.
