J&P AVAX SA recently will absorb two of its wholly owned subsidiaries, E-Construction SA and PROET SA, a move it has disclosed in compliance with Greek law.
 
The board of directors of all three companies recently met and agreed upon the merger through absorption, which will be based on financial statements from Dec. 31, according to a press release from the company. J&P AVAX does not anticipate that the absorption will significantly affect its financial figures.
 
The merger is subject to regulatory approval and will be carried out in compliance with Greek laws.