Greece’s share watchdog has approved plans for the majority shareholder in food group Vivartia to buy the rest of the company.
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Marfin Investment Group plans to launch a formal public offer for the 22.4% of Vivartia that it does not already own.
Marfin began building its stake in Vivartia back in July with the acquisition of a 30% stake for EUR549.8m (US$757.8m).
Vivartia, which was formed last year with the merger of dairy group Delta Holdings and snacks maker Chipita International, is market leader in a number of food categories in Greece.
The company has operations in 29 countries across Europe, Russia, Egypt, Saudi Arabia and the US.
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