Ideal Holdings is in an advanced stage of negotiations for the acquisition of Barba Stathis, Ideal Holdings said in a clarifying statement to the Capital Market Commission, confirming the reports of the last few days.

In particular, it states that it is in an advanced stage of negotiations with Frozen Holdings Monopropimi S.A., the sole shareholder of Barba Stathis Monopropimi Anonimi Industrial and Commercial Company ('Barba Stathis'), for the acquisition of 100% of the shares of the latter.

Ideal clarifies that until the present time, a Share Purchase Agreement (SPA) has not been signed between the parties involved, which will define in detail the general and specific terms of the transaction, including the price.

"The completion and signing of the aforementioned agreement will take place in the coming days. Upon its signing, the company will immediately make the required announcements in accordance with the requirements of the applicable legislation," the announcement concludes.