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Viohalco Leaves Greece

viohalco_390_1609One of the most historic Greek companies, Viohalco Hellenic Copper and Aluminum Industry, is moving its headquarters to Belgium.
According to what the company in Greece announced, Viohalco will be absorbed by its subsidiary in Belgium, aiming at a more direct access to the international capital markets.
According to the same announcement, the shares of the company will be traded on Euronet market in Brussels. Athens Stock Exchange, which has traded the company’s shares since 1947 will cease to trade them. The company currently has a market capitalization of 1 billion euros.
Viohalco is the third biggest Greek company which leaves the country in 2013. The reason why the company decided to abandon Greece and move to Brussels is that it was having difficulties in finding financing in Greece. In addition, taxes in Belgium are lower.

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