Cherry increases stake in Almor Holding

Cherry AB is to acquire an additional 7.5% stake in Malta’s Almor Holding for approximately €4.4m ($5.3m). The purchase, which will be paid through a combination of equal portions cash and newly issued shares in Cherry, will increase Cherry’s holding in Almor to 90% upon completion. In July 2015, Cherry acquired an initial 71% stake in Almor, with the option to buy all remaining shares in the following four years and eight months. Cherry then bought a further 4% stake later in the same year, before i ncreasing its stake by an additional 7.5% in April last year, placing its overall holding at 82.5%. Cherry can acquire the remaining shares in Almor during the first six months of 2019.

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