Aristo Developers: Unsuccessful negotiations

The negotiations between Aristo Developers and Leptos Developers on the acquisition of up to 100% of the share capital of Aristo by the latter were unsuccessful. Pandora Investments, which carried out the negotiations, announced today that the deliberations on the submission of a Public Offer did not end up with an agreement. “Within the framework of the enforcement of its strategic plan, taking advantage of its strong balance sheet and its wide know-how in the sector of property, the Company observes the opportunities for further development, having as a main criterion the constant strengthening of its share value”, the announcement added.

Chairman of Aristo Developers, Theodoros Aristodemou told StockWatch that the Board of Directors examined all the parameters of the proposal and decided unanimously that autonomous course will be to the benefit of the Company’s shareholders, the staff and the customers.

According to sources, the price of acquisition had been set at £300 million cash.