SEKAP

A few years have passed since the former Cooperative Greek Tobacco Industry, also known as SEKAP, was “sinking” under the weight of huge accumulated debts, following the fate of its main shareholder, ATE Bank, while the revelation of the smuggling case had preceded it, when the discovery of a ship in Edipsos with cigarettes of the company served as the end of the thread.

The operation of Greek tobacco company SEKAP will continue following the definitive agreement for the acquisition of parent company Donskoy Tabak by Japan Tobacco International (JTI).

Japan Tobacco, the world's second biggest multinational in the sector, is the new owner of Greek tobacco company SEKAP, after the $1.6 billion deal Russian-Greek entrepreneur Ivan Savvidis reached with the 33 percent state-owned Japanese firm for the sale of Donskoy Tabak, which bought SEKAP in 2013.

The Komotini administrative court lent tobacco company SEKAP some breathing space on Friday, putting off its definitive decision regarding the firm's 38.2-million-euro fine until January 17.

The likely bankruptcy of tobacco company SEKAP is to be decided at the administrative court of Komotini, northeastern Greece, at noon on Friday, following the company's decision on Thursday to stop paying its dues if the verdict does not go its way.

The final draft of the 2018 state budget, tabled in Parliament on Tuesday, has some tax dodger lists attached to it. They concern cases of tax evasion and smuggling, yet there is no mention of the money collected.

Ivan Savvidis, the Greek-Russian businessman and owner of PAOK Thessaloniki football club, raised eyebrows on Tuesday while pledging his support for Prime Minister Alexis Tsipras by saying that he reminds him of Russian President Vladimir Putin.

The Greek-Russian businessman and owner of PAOK FC in the Thessaloniki, in a rare interview he gave to “Proto Thema” he surprises everyone with a lot of what he says.

Ivan Savvidis came out openly as a strong supporter of the Greek Prime Minister Alexis Tsipras.