Sklaveni­tis gets a step closer to Marinopou­los

Kathimerini English - - Focus - DIM­I­TRA MANIFAVA

The com­ple­tion of the ac­qui­si­tion of Marinopou­los su­per­mar­kets by Sklaveni­tis edged a step closer yes­ter­day af­ter the pub­li­ca­tion of a de­ci­sion by the com­pe­tent court in Athens that ap­proved the agree­ment for the stream­lin­ing of the coun­try’s big­gest re­tail chain.

The court ac­cepted the main points of the deal and has only asked for some mi­nor changes that do not af­fect the essence of the agree­ment. The ver­dict shows no in­ten­tion to pun­ish the Marinopou­los fam­ily.

The next steps in the process are over­com­ing the con­tract’s an­nul­ment clause – due to the de­lay in the ver­dict’s is­sue – and se­cur­ing the ap­proval of the com­pe­ti­tion au­thor­i­ties in Greece and Cyprus for the Sklaveni­tis group’s ab­sorp­tion of Marinopou­los.

Sources fa­mil­iar with the agree­ment say that seven al­ter­na­tive sce­nar­ios are be­ing stud­ied with the aim of over­com­ing the an­nul­ment clause, one of which con­cerns the post­pone­ment of the Fe­bru­ary 14 dead­line for the com­ple­tion of the trans­ac­tion that could be im­ple­mented via a pub­lic state­ment by Sklaveni­tis without re­quir­ing an amend­ment to the deal.

Greece’s com­pe­ti­tion au­thor­i­ties are, sources say, likely to rule by end-Jan­uary that Sklaveni­tis should sell 20-25 Marinopou­los stores to ri­val chains in At­tica and Crete.

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