The deal aims to further expand its store network and e-commerce in Southeast Europe.

Paramount stock was down more than 3% in pre-market trading Tuesday, and has plunged 23% so far this year.

A 30% increase more than the pre-pandemic average.

Nordic will acquire shares up to the amount of €12,500,000.

The reserve price is 7.3 per cent lower than the one in its 2023 bid to be sold en bloc at $600 million.

CISCO and Axia Ventures Group acted as Advisors.

The buyer is Mutualidad de la Abogacía, a non-profit insurance company for lawyers and engineers in Spain.

GEK TERNA had bid in September 2023 with an 3.27 billion euros offer.