Athens, Greece – February 5, 2025 – Fourlis group (Bloomberg: FOYRK:GA - Reuters: FRLr.AT - ISIN: GRS096003009), a leading retail Group of companies in Southeast Europe, announces the successful completion of the private placement of Trade Estates shares, marking a significant milestone in the group’s strategic evolution.

Despite challenging market conditions, investor interest was strong, enabling the placement of 16% of Trade Estates share capital—exceeding the required 13.4%—bringing Fourlis group participation below 50%, and in particular to 47.3%. This step paves the way for the deconsolidation of Trade Estates, while maintaining a meaningful minority stake in the company.

Through this transaction, Fourlis group secures €29 mil., reinforcing its financial position and significantly reducing net debt, that, following the transaction, stands today at 60 mil. euro. This move enhances the group’s flexibility to drive its long-term strategy, while Trade Estates continues the implementation of its ambitious growth plans in the real estate sector.

Vassilis Fourlis, Executive Chairman of Fourlis Holdings, commented: "This transaction is a key milestone in our strategy, reinforcing our financial strength while unlocking new opportunities for Trade Estates independent growth. We remain confident in the long-term potential of Trade Estates and will continue to support its development. At the same time, Fourlis group is now in an even stronger position to focus on its core business strategy and drive further value creation for our shareholders."

Information
Elena Pappa
Investor Relations & Corporate Affairs Director
Tel.:+30 210 6293254
Email: Elena.Pappa@fourlis.gr