Ivan Savvidis: I want to buy Souroti

“Yes, I want to buy Souroti. I want to buy it, very much. I want to link my fortune with this enterprise, with an 100 years old history. It is always better a quality, precious stone to turn it into a diamond,” Ivan Savvidis said.

Addressing a meeting of Souroti shareholders and workers, at the presence of board members and representatives of local authorities, Ivan Savvidis, already a shareholder in Souroti, stressed that although the company was a small enterprise “it has no liabilities and has the potential to win a greater European and beyond market share”.

He expressed his confidence that he will have the majority of shares, or 51 pct, in a few days and said he would make an offer to Coca Cola -the other candidate for Souroti-, while he stressed he was a businessman socially orientated with respect to traditions and job positions and not looking for profit “regardless of the price”.
“If Coca Cola refused to sell its shares in Souroti, I will buy them cheaper in a year,” he said.

Savvidis said that development of Souroti would need a share capital increase and noted that he could not guarantee dividends sooner than a period of seven years. He said Souroti would need around 15 million euros to expand its activities through modernization of facilities, improving marketing and sales and probably more workers.