Spain’s Puig lands Apivita

Kathimerini English - - Focus - DIMITRA MANIFAVA

De­spite the com­pelling ru­mors, it is Spain’s Puig and not France’s L’Oreal that is the new owner of Greek nat­u­ral cos­met­ics com­pany Apivita, as the lat­ter an­nounced yes­ter­day.

The Span­ish group will en­ter Apivita as a ma­jor­ity stake­holder via a share cap­i­tal in­crease, bol­ster­ing the Greek firm’s cap­i­tal ad­e­quacy. The trans­ac­tion price is not known, while an Apivita source re­futed re­ports speak­ing of 40 mil­lion eu­ros.

Com­pany founders the Kout­sianas fam­ily will re­tain a 33.3 per­cent stake and hith­erto chief ex­ec­u­tive Nikos Kout­sianas will be the new chair­man.

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