The acquisition of minority participation in company Gencom Ltd based in Nicosia announced Make Group.
The company belongs to the GENERAL ELECTRICAL TRADE SA, the interests of the family of the politician who manages the well -known eshop and department stores in Lamia and Alimos. Upon completion of the capital increase, the FAIS Group will hold 16.67%.
Specifically, Gencom Ltd signed on 8.5.2025 with the Ermes Departments Stores contract for the acquisition of the department stores known under the name ERA Department Stores and located in Cyprus. These are Era Mall of Cyprus department stores Nicosia, Era Apollon Limassol, Era Zenon Larnaca and Era Korivos Paphos.
Fais will be involved in a share capital increase of EUR 1,495,000 with € 250 thousand through its 100% subsidiary under the name One Outlet SA
The completion of the acquisition process is under the approval of the Cyprus Competition Committee.