Cyprus Trading Corporation (CTC) has officially concluded its mandatory takeover bid for up to 100 percent of the issued share capital of Ermes Department Stores Plc. The acquisition process, which was formally initiated on April 2, 2026, reached its conclusion following the expiry of the bid on July 13, 2026.

Following a final review of the acceptance and transfer forms, the total acceptance rate of the bid reached 9.145 percent, representing 15,957,667 shares of the target company. Within this figure, 1,026,128 shares (0.588 percent) were contributed by individuals acting in concert with the offeror. Combined with the 77.215 percent stake already held by CTC prior to the bid's conclusion, the company now commands a total participation of 86.360 percent, amounting to 150,697,714 shares of Ermes Department Stores.

Payments for the shares were distributed to the participating shareholders via bank transfers on July 23, 2026. This acquisition marks a significant consolidation of CTC’s control over the retail entity.