PPC completes Kotsovolos takeover

Public Power Corporation (PPC) on Wednesday announced the completion of the acquisition of the Kotsovolos chain of electrical and electronic goods from Currys Plc through which it will significantly accelerate its transformation into an integrated provider of products and services in the retail market.

The acquisition was completed for a consideration that corresponds to an enterprise value of 200 million euros on a debt-free, cash-free basis and excluding lease liabilities.

The acquisition was completed following the customary conditions for these kinds of transactions, including the merger control clearance of the Hellenic Competition Commission.

PPC financed the acquisition through own funds.