One of Creta Farm's major shareholders reveals identity of would-be 15-mln€ investor

Wednesday, 26 June 2019 13:39
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One of the main shareholders in major luncheon meats producer Creta Farms on Tuesday revealed the identity, as he said, of a prospective strategic investor in the Crete-based company, with Konstantinos Domazakis pointing to Theodoros Douzoglou and the latter's Cypriot investment vehicle, SCD Group Ltd. as would-be "golden knight" in this case.

The announcement comes as the company's management said a PwC audit had disputed Domazakis' assertions of being owed 11.6 million euros by the company.

Konstantinos Domazakis, one of the Domazakis family members which own large stake of Creta Farms shares, met on Tuesday with representatives of National Bank of Greece, which is leading a consortium of  the company's main creditors. The former, according to reports, submitted a letter of intent at the meeting citing the 15-million-euro investment in the struggling luncheon meats producer by SCD Group Ltd.

The announcement came after Creta Farms informed the Hellenic Capital Market Commission and investors that the PwC audit did not turn up obligations by the former to Konstantinos Domazakis, namely, alleged "cash infusions" by the latter in 2005-2006.

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