Investment Consortium in ETANAP

1 min 2 sec read

ETANAP – Samaria is at the center of a significant corporate reshuffle, as the €14/share acquisition offer triggers strong movement in its shareholder structure.During the company’s General Assembly in Stylo Apokoronou, the President of Chania Cooperative Bank, Michalis Marakakis, confirmed that the bank will divest its entire 28.5% stake, implementing its own General Assembly’s decision to transition into a Société Anonyme (S.A.), which requires divestment from non‑core holdings.

At the same time, Attica Group has not issued an official statement, but according to information shared during the General Assembly, it is considering a potential sale. The offered price —approximately €14/share— is significantly higher than the €10/share Attica paid two years ago to secure majority control of the bottling company.

Deal mechanics: majority acquisition >50%

Marakakis revealed that an agreement has already been reached with investors who are now in the final phase of legal, tax, and financial due diligence. The process is expected to conclude within days, paving the way for the acquisition of a majority stake exceeding 50%.

The identities of the investors remain confidential due to contractual obligations, though securing majority control is understood to be a key condition of the deal.

Valuation premium & strategic repositioning

Chania Bank clarified that the divestment is not related to operational issues within ETANAP, but rather to the implementation of its General Assembly’s strategic decision to convert into an S.A., which requires a streamlined shareholder profile and exit from non‑banking activities.

The €14/share premium creates a window of opportunity for shareholders, while the entry of a new majority investor is expected to reshape the company’s strategy and market positioning in its next growth phase.