Olympia Group

Specialist battery company Sunlight, a member of Olympia Group, will significantly increase manufacturing capacity and create new jobs at its state-of-the-art plant in Xanthi, northern Greece, following a 25-million-euro, 10-year loan from the European Investment Bank (EIB) which was confirmed in Athens on Friday.

Businessman Panos Germanos, the founder of the diversified Olympia Group and the major shareholder of Sunlight, has managed to turn the industry into a superpower in the field of battery production.

The group has 15 factories in Europe and America, while constantly intensifying its production activity in Greece as well.

The likely sale of retail chain Kotsovolos is expected to create a new landscape in the domestic market of electrical and electronic household appliances, especially since it is its biggest player.

The Olympia Group, founded by Panos Germanos, has donated medical and technological equipment valued at two million euros to the ministries of education and health, to assist in the fight against Covid-19.

The donation will be made through the Group's subsidiaries, Public- MediaMarkt and Sunlight.

After months of negotiations, Public, a company owned by Panos Germanos' Olympia Group, and MediaMarkt Hellas, a subsidiary of German group MediaMarkt-Saturn, on Tuesday announced they are forming a new venture, with Olympia holding a 75 percent stake and MediaMarkt-Saturn 25 percent.

Greek company Sunlight on Wednesday announced its entry into the market of lithium battery products, along with the return to full production capacity of its unit at Olvio near Xanthi next month, after the blaze that almost destroyed it on May 1, 2018.

Sunlight Systems on Friday announced it had completed the sale of the consumer battery branch of its business to Westnet Distribution SA, a member of Olympia Group which is active in the sale of technology products, for 5.36 million euros.

In a press release, Sunlight Systems said PriceWaterhouseCoopers completed the evaluation report.

New investors have purchased a stake in Lamda Development, the construction firm which heads the consortium planning to implement the Elliniko project. The development of the old Athens airport plot is now closer to getting the green light, with the signing of the necessary presidential degree due to take place on Friday.

Piraeus Bank announced on Friday that it has agreed to sell Olympic Commercial and Tourist Enterprises to a consortium comprising Olympia Group and Virtus International Partners. Olympic Commercial holds the Greek car rental franchises Avis and Budget in Greece.

Piraeus, Greece's biggest lender by assets, will receive 80.6 million euros from the sale. [Reuters]

The Bulgarian businessman Spas Rusev has reportedly acquired the leading Bulgarian telecommunications company Vivacom after a bidding, which lasted for nearly sixteen hours.

According to media reports, he won the auction by offering EUR 330 M, Darik radio reports.

The other bidder was the Greek businessman Panos Germanos, who is owner of the Olympia Group.