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2019

22/03/2019

Regulated Information: Announcement of Business Developments

MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. hereby announces the completion of the transaction, under the terms described in the Announcement dated 30 October 2018, for the acquisition through its Cyprus based subsidiary under the legal name MEDIAMAX HOLDINGS LIMITED (*) of the joint control of the companies:

·        ALPHA SATELLITE TELEVISION S.A. (it operates the television channel ALPHA)

·        ALPHA RADIO S.A. (it operates the radio station ALPHA 98.9 in Attika) and

·        ALPHA RADIO KRONOS S.A. (it operates the radio station ALPHA 96.5 in Salonica)

 

The total outlay for MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. for the completion of the transaction and the necessary transformation of the shareholder structure leading to the joint control, with ALPHA MEDIA GROUP LIMITED and Mr. Dimitris Kontominas, of the companies ALPHA SATELLITE TELEVISION S.A., ALPHA RADIO S.A. and ALPHA RADIO KRONOS S.A. was Euro 33 million.

(*) The company was acquired by MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. under the initial legal name “SEILLA ENTERPRISES LIMITED” in October 2018 and was renamed to “MEDIAMAX HOLDINGS LIMITED” in December 2018.

 

Maroussi, 22 March 2019

The Board of Directors

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