Storied Cypriot soft drinks company KEAN on Tuesday released a statement notifying the public that its board has reached an agreement in principle to sell the company’s shares to BBF, marking a change in ownership after 74 years of operation.
“The purchase of KEAN is a mark of its dynamic presence in the present and assures its dynamic course in the future,” the announcement said.
“A course, which will be based on the companys values, which are its moral compass in the way it operates and how it supports Cypriot society, and which have been contributing to its long-term course, until this very day,” it added.
The Cypriot soft drinks company was founded in 1949 by chemistry graduate Takis Christodoulou.
The company also stressed that the agreement contains all relevant provisions ensuring that all staff agreements and benefits will continue to apply, as will everyones employment under the new ownership.
It should be noted that the agreement is subject to a due diligence review. This process is expected to last for a period of three months.
“The commitment of all of us at KEAN, owners, managers and staff is to continue our timeless mission,” the company stated, noting that this mission is “to continue to support our country, with dedication and love, as always”.
BBF has a diverse portfolio of investments, primarily in the real estate sector. The company, which was founded in 2007, owns 136 properties in Cyprus, Greece, Canada and Portugal.
Contents of this article including associated images are belongs Cyprus Mail
Views & opinions expressed are those of the author and/or Cyprus Mail
Source
