BULGARIA/HUNGARY: Globus gets option to buy stake in Bulgaria’s Storko
Hungarian canning company Globus has said that it has signed an options contract with Bulgarian holding company Line to acquire a majority stake in Bulgaria’s largest frozen food and canning company, Storko, by the end of 2004. Globus has an option to buy either a 51% stake in Storko for US$701,250 or a 66% stake jointly with Globus’ principal owner Deutsche Investitions- und Entwicklungsgeselleschaft for $907,500, reported Dow Jones International News.
Hungarian canning company Globus has said that it has signed an options contract with Bulgarian holding company Line to acquire a majority stake in Bulgaria’s largest frozen food and canning company, Storko, by the end of 2004.
Globus has an option to buy either a 51% stake in Storko for US$701,250 or a 66% stake jointly with Globus’ principal owner Deutsche Investitions- und Entwicklungsgeselleschaft for $907,500, reported Dow Jones International News.
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