BELGIUM/HUNGARY: Cannery Globus and Pinguin proceed with independent acquisitions
Hungarian canned food producer Globus has modified a declaration of intent signed earlier with Belgian frozen food company Pinguin, and signalled its intention of proceeding with its independent spending spree. The agreement concerns mutual acquisitions. As reported last month, Globus and Pinguin will acquire a minimum 5% stake in each other's equity, with the value to be maximized at €1.5m. Globus will not participate in Pinguin's acquisition of the UK's Albert Fisher group, and it will carry out its own purchase of Polish firm Elsner Polen alone.
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