Koutalidis Law Firm advised ETEM S.A. (“ETEM”) and ELVALHALCOR S.A. (a member of VIOHALCO group and currently the sole shareholder of ETEM), in their strategic partnership with COSMOS ALUMINIUM S.A. (“COSMOS ALUMINIUM”).
The envisaged transaction involves the absorption of ETEM by COSMOS ALUMINIUM, resulting in the creation of a robust company in the field of aluminium extrusion, maximizing the benefits for the shareholders, staff and partners of both merging companies and creating a number of synergies and economies of scale between them. The operations of COSMOS ALUMINIUM and ETEM are currently complementary to each other (the first being active in the field of industrial aluminium profile and the second in the field of the architectural aluminium profile). Following the absorption of ETEM, COSMOS ALUMINIUM is expected to have a projected turnover of over €300,000,000, becoming one of the largest extrusion manufacturers in South-East Europe.
Koutalidis Law Firm performed legal due diligence in COSMOS ALUMINIUM and advised ETEM and ELVALHALCOR in the negotiation and finalization of the transaction documents which have been executed by ETEM, COSMOS ALUMINIUM and their shareholders on 27.12.2022.
Following the completion of the merger, which is subject to the satisfaction of certain conditions precedent, ELVALHALCOR, will enter COSMOS ALUMINIUM with a shareholding percentage of 15%, while the current shareholders of COSMOS ALUMINIUM will participate in the share capital with a percentage of 85%.
