In line with the ‘One Unilever’ strategy, the Anglo-Dutch consumer goods giant has today (4 September) said that it hopes to acquire the remaining shares that it does not already own of Greek food company Elais-Unilever.

The world’s third largest food company behind Nestlé and Kraft, Unilever currently holds 67% of Elais, which is traded on the Athens stock exchange. Unilever said that it intends to make the offer through its subsidiary Unilever Hellas and plans to delist Elais-Unilever once the takeover is completed.

“The intended acquisition of the outstanding shares of Elais-Unilever and the planned subsequent delisting from the Athens stock exchange is in line with the ‘One Unilever’ strategy,” Unilever said in a statement.

The company is offering EUR24.5 (US$31.4) for each share that it does not already own.

Unilever was up 1.27% at 1,271 pence at time of press. Gains came after UBS upgraded the company to “buy” from “neutral.” The investment bank raised the price target to 1,480 pence from 1,250 pence, citing a pick-up in operational performance.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.