The owner of Vivartia, Greece’s largest food group, has decided to sell 12% of the company through a public share offer.
Marfin Investment Group (MIG), the investment fund, is to sell the shares for at least EUR25 (US$36) each.
Vivartia MD Spyros Theodoropoulos has decided to up his stake in the business to just over 6.1%.
Saudi conglomerate Olayan Group has also moves to buy just under 2% of Vivartia, formed last year with the merger of dairy group Delta Holdings and snacks maker Chipita International.
MIG first bought a stake in Vivartia in July and snapped more shares throughout August. By selling a minority stake in Vivartia, MIG can keep the company listed on the Athens Stock Exchange and raise funds for expansion.
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.
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