Nireus, the Greek fish farming and processing company, has signed a pre-agreement with George Vanis and Mr Dionisios Rorris to sell its confectionery unit.

The company, which is listed on the Athens Stock Exchange, is spinning its confectionery unit off into a 100%-owned subsidiary called Marant.

The final sale and transfer of the shares of Marant remains subject to relevant shareholder and regulatory approvals, Nireus said. The purchase price has been agreed at EUR7.6m (US$11.3m).

Nireus stated that it is selling the confectionery business, which it said was profitable, in order to focus on its core fish farming activities.