July 11 (SeeNews) - Albanian diversified group Kastrati has canceled a 2.37 million euro ($2.4 million) deal to take over Intermedia Group, the owner of Euronews Albania, local media reported.
The shares will be returned to the previous owner Theodhoro Cami, news provider Exit reported on Friday.
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The reason for the cancellation of the contract was not revealed.
Local media reported in April that Kastrati has acquired a 60% stake in Intermedia Group from Cami.
Kastrati Group is mainly active as a wholesale and retail trader of hydrocarbon products, but it also operates in the insurance, construction, real estate, hospitality, tourism, automotive industry, retail, advertising and other industries.
($ = 0.9877 euro)