The owner of Vivartia, Greece’s largest food group, is planning to sell a stake in the company in a bid to keep the business publicly-listed.
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Marfin Investment Group (MIG), which holds 91.5% of Vivartia after building its stake in the company this year, wants to sell a chunk of the business to institutional investors.
MIG wants to keep Vivartia, formed last year with the merger of dairy group Delta Holdings and snacks maker Chipita International, listed on the Athens Stock Exchange.
To do that, a spokesperson for MIG said the fund would look to sell 10-15% of Vivartia. “To have the company listed gives it more flexibility in terms of M&A in the Greek market,” the spokesperson told just-food today (9 October).
MIG bought its first stake – worth 30% of the business – in Vivartia in July, snapping up more shares throughout August.
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By GlobalData
