Ideal Group S.A. (ATSE:INTEK) made an offer to acquire Byte Computer S.A. (ATSE:BYTE) from Spyridogeorgis Byzantiou, Alpha Services and Holdings S.A. (ATSE:ALPHA), Alpha Asset Management A.E.D.A.K. and other shareholders for Ç55.4 million on July 1, 2022. Under the terms Ideal will pay Ç2.1 in cash and will issue 0.397590 shares. If the offer is successful, Byte Computer's shares will be delisted.

The offer is subject to acceptance of minimum 11,071,206 shares, representing 70% of share capital of BETA. On August 4, 2022, the transaction obtained approval of Hellenic Capital Market Commission. The offeror has a right of squeeze out upon acquisition of 90% stake in BETA, within the prescribed period of three (3) months from the end of the acceptance period and to redeem against the offered consideration or alternatively to a cash consideration of Ç3.495 per share cash consideration, at the option of the shareholder, the shares of the remaining shareholders who have not accepted the takeover bid or have not accepted it legally and validly.

The process is expected to complete in around two months subject to necessary approvals and will take another 30 days to complete the transaction. As of August 8, 2022, the offer period is expected to close on September 19, 2022. The Ideal has appointed Eurobank Ergasias Services and Holdings S.A. as advisor.