Italian food producer Arena Holding and its frozen food making unit Roncandin SpA have confirmed the sale of its pizza business to local food company Foodinvest Corporate, according to the ANSA news agency.
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The transfer of ownership is envisaged for 22 June 2005. Roncadin and Arena Holding reached an agreement on the sale of pizza divisions to Foodinvest for a total €11.3m (US$13.6m) on 27 May.
