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Quest's non-binding offer for “Kotsovolos”

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Out of contention for “Plaisio Computers”, a silent fish from PPC

Μη δεσμευτικor προσφορτ&eta ;ς Quest για την «Κωτσoβολος»

It remains to be seen until Friday how many and who will finally be the ones who will submit an offer to Citigroup, which is “running” the process of selling “Kotsovolos”.

Dimitra Manifava

Plaisio Computers will ultimately be left out of the process of claiming “Kotsovolos”, as the company decided – according to completely secure information from “K” – not to proceed with the submission of an offer. Quest, on the other hand, owned by Theodoros Fessa, is the only company so far that officially declares that it has submitted an indicative and non-binding offer for the acquisition of “Kotsovolos”, through a statement it issued yesterday to the Athens Stock Exchange.

As, of course, the company points out in the relevant announcement, “the evolution of the process follows, therefore it is not certain that this process will lead to a final agreement with Quest”. PPC, on the other hand, remains tight-lipped about whether it submitted or is finally going to submit an offer for “Kotsovolos”, while it remains to be seen until Friday how many and who will be the ones who will finally submit an offer to Citigroup, which ” runs” the sales process.

In the first half of the year, the turnover of electrical and electronic devices amounted to 1.478 billion euros.

Quest Participations has a presence in retail through stores for the sale of technology products of specific manufacturers (Apple, Xiaomi), while it has the distribution of Gree, Toyotomi air conditioners and also the distribution of the Singer, Izola and Kerosun brands, after the acquisition of “G. E. Dimitriou”. It also maintains the online store you.gr. If anything, it is considered that the acquisition of “Kotsovolos” and the network of 95 stores in Greece and Cyprus would create great synergies for the group.

However, the electrical and electronic household appliances sector is still in the … outlet, as the first half of 2023 closed with an increase in value, but also in sales volume.

Therefore, according to the data of the market research company GfK, available to “Kathimerini”, the turnover of the market between January and June 2023 was 1.478 billion euros, recording an increase of 26.6% compared to the corresponding period last year.

At the same time, sales volume increased by 6.4%, also compared to the first half of 2022, helped by subsidized appliance replacement programs, increased tourist traffic, but also the rich building activity.

The category with the largest sales increase was that of air conditioners, by 111.9% in the first half of 2023 compared to the first half of 2022, a category which participates in the turnover of the total market by 17.2%. Sales of large household appliances (refrigerators, washing machines, kitchens, etc.) were significantly boosted, by 49.6% in the first half of 2023 compared to the corresponding period last year. Sales of small household appliances (coffee makers, etc.) increased by 26.7%.

In the largest category in terms of turnover, that of telecommunications, a sales increase of 15.1% was recorded, mainly as a result of entry into the market of new mobile phone models. The share of this category in the total turnover is 30.3%. Sales of consumer technology products (televisions, etc.) increased by 6.6%, while sales of photographic items increased by 8.4%.

Finally, the category of of IT products (computers, peripherals) and office equipment, with sales falling 16.2% in the first half of 2023 compared to the corresponding half of 2022.

Source: www.kathimerini.com.cy

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