Affichage divests its involvement in Greece
Affichage has decided to terminate its business activities in Greece with immediate effect and to hand over its operations to a Greek competitor.
Affichage is thus consistently implementing its new foreign strategy, which aims to focus on profitable markets, the company wrote in a press release on Thursday. By ending its involvement in Greece, the company has been able to eliminate a loss-making legacy of its former expansion strategy in the interests of shareholders and the Group as a whole.
With this transaction, Affichage has significantly reduced the risk profile of its foreign portfolio and laid the foundation for further consolidation of its international activities, the statement continues. Over time, these measures will enable the Group to focus its resources on strengthening its market leadership in Switzerland in line with its strategy.
According to the press release, this transaction has no influence on the legal steps already initiated against P. Vrionis and other persons associated with him. The parties have agreed not to disclose the purchase price.
