The management of 'Babis Vovos International Construction S.A.', commenting on reports in the Daily Press about METRO GROUPís decision to exit the Greek market with Media Saturn, with the simultaneous closure of three of its five stores and the concession of the two remaining stores to Media Markt, announces the following:
One of the three stores that was decided to be closed, is that of P. Faliro, that was leased by BVIC Group to 'Media Saturn Electronics Hellas Holding SA', with a private lease agreement, which was signed on 03.10.2005. The lease has a duration of 12 years and, according to the Amendment - Completion of the above mentioned agreement signed on the 29.10.2010, the lessee has waived, throughout the lease term, the right of early termination according to Article 43 of P.D.34/1995, as amended by Article 17 of L.3853/2010.
The obligations of the tenant, stemming from the above mentioned lease agreement, as was amended, have also been guaranteed by the German parent company 'Media Saturn Holding GmbH'.
On the basis of the above and regardless of the business decision of METRO GROUP regarding the closure of that store, BVICís management deems the above mentioned lease agreement as absolutely valid and its conditions should be observed until the end of the lease term.