Cherry increases stake in Almor Holding
Cherry AB is to acquire an additional 7.5% stake in Malta’s Almor Holding for approximately €4.4m ($5.3m).
The purchase, which will be paid through a combination of equal portions cash and newly issued shares in Cherry, will increase Cherry’s holding in Almor to 90% upon completion.
In July 2015, Cherry acquired an initial 71% stake in Almor, with the option to buy all remaining shares in the following four years and eight months.
Cherry then bought a further 4% stake later in the same year, before increasing its stake by an additional 7.5% in April last year, placing its overall holding at 82.5%.
Cherry can acquire the remaining shares in Almor during the first six months of 2019.
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