A Greek company agreed to acquire 90.04% stake in ARIVIA from Elgeka S.A. (ATSE:ELGEK) for €20 million on November 30, 2016. As of February 20, 2017, Elgeka's shareholder approve the sale of approximately 12.3 million shares of ARIVIA representing 90.04% stake. The transaction consideration of €20 million will payable by Greek company in next fifteen days. The sale of ARIVIA will directly lead to the inflow of a significant consideration in Elgeka and this inflow will be used to negotiation of Elgeka's commitment to its lending banks in the context of the new S.B.L. (Syndicated Bond Loan) for restructuring of its debt. Amount of €10 million from the consideration that is 50% of the total consideration will be directed to the creditor banks of Elgeka to repay existing loans. A Greek company completed the acquisition of 90.04% stake in ARIVIA from Elgeka S.A. (ATSE:ELGEK) on February 20, 2017. In 205, ARIVIA had sales of €10.3 million, loss before taxes, financing, investing activities & depreciation of €1.09 million, net profit of €1.8 million and shareholder's equity of €3.04 million.