Cryred Investments 100% control of luncheon meats maker Nikas via ‘squeeze out’

Cryred Investments, controlled by local businessman Spyros Theodoropoulos, on Friday submitted a request to the Hellenic Capital Market Commission to purchase all types of shares of Greece-based luncheon meats maker Nikas, essentially a “squeeze out” – a compulsory sale of shares held by minority shareholders with a fair cash compensation.

Cryred currently controls 53,118,682 shares out of a total of 53,154,140, in other words, 99.93 percent of voting rights.

The price per share offered is 1.24 euros, equal to the price in a public offering.