The Greek securities regulator has approved the acquisition of the remaining shares Nestlé Hellas does not already hold in Delta Ice Cream through a squeeze-out process.
Its delisting from the Athens Stock Exchange had also been approved, Delta said in a stock market filing yesterday (23 November).
Nestlé Hellas, the Greek unit of Swiss food giant Nestlé, had purchased 96.53% in Delta’s ice cream operations, for EUR111m in May. It increased its stake to 98.5% through a public offering of EUR6.63 per share.
Delta Ice Cream has activities in Greece, Bulgaria, Romania, Serbia, Montenegro and the Republic of Macedonia.