The Cyprus Securities and Exchange Commission (CySEC) has granted Logicom Services Limited an exemption from the statutory obligation to launch a public takeover bid for Demetra Holdings.
The regulator's decision, announced on Wednesday, relieves Logicom of the mandatory offer requirement that typically triggers when a shareholder crosses specific ownership thresholds in a listed company.
By waiving this rule, CySEC allows Logicom to proceed with its current stake in Demetra without triggering a full-scale buyout offer to minority shareholders.
The exemption is a key development in the ongoing consolidation of Cyprus's logistics sector.
Logicom, a major player in the island's freight and logistics market, has been expanding its footprint through strategic acquisitions.
Demetra Holdings, which operates in the warehousing and logistics space, represents a significant asset in this portfolio.