KEAN confirms agreement in principle for its takeover by bbf.

10:33 - 04 April 2023

Companies

Cypriot food and beverage giant KEAN has confirmed that it reached an agreement in principle for its acquisition by developer bbf.

According to an announcement by KEAN, “Following 74 years of successful operation, KEAN confirms that it has reached an agreement in principle with the company bbf. to sell the company’s shares”. It added, “The acquisition of KEAN marks its dynamic presence in the present and lays out its dynamic course in the future”.

A course, it said, that will be based on the company’s values, which are the moral compass for how it operates and contributes to Cyprus society, and which contribute to its long history to date.

“In this context, all staff acquis will continue to apply, as will everyone's employment,” said KEAN.

It is noted that the deal is still subject to due diligence and expires in three months.

“The commitment of all of us here at KEAN – owners, managers and staff – is to continue on our longstanding mission; to contribute to our country, with dedication and love, as always,” the company announcement concluded.

KEAN confirms agreement in principle for its takeover by bbf.

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