Fourlis describes the successful completion of the private placement of Trade Estates shares as an important milestone in the strategic development of the group.

As highlighted in the announcement, despite the difficult stock market environment, investor interest was strong, allowing the placement of 16% of Trade Estates' share capital, a percentage that exceeds the required 13.4%, resulting in the reduction of the Fourlis Group's stake below 50%, namely 47.3%. This development leads to the deconsolidation of Trade Estates, while the group retains a significant minority shareholding in the company.

Through this transaction, the Fourlis group secures EUR 29 million, strengthening its financial position and significantly reducing its net debt, which after this sale currently stands at EUR 60 million. This move increases the group's flexibility to implement its long-term strategy, while Trade Estates continues to implement its ambitious plans in the real estate sector, it noted.

Vassilis Fourlis, Fourlis Holdings Executive Chairman, said, "This transaction represents an important milestone in our strategy, strengthening our financial position while creating new opportunities for Trade Estates' independent growth. We remain fully confident in Trade Estates' long-term potential and will continue to support its growth. At the same time, the Fourlis Group is now in an even stronger position, focusing on its core business strategy and creating further value for our shareholders."