Greece's largest food company Vivartia looks set to receive a takeover bid from its largest shareholder, it emerged today (18 July).

Marfin Investment Group (MIG) said it intends to submit an offer for the whole of Vivartia after building its stake in the company to over 50.8%.

The announcement comes just days after MIG took a 30% interest in Vivartia, which was formed last year with the merger of dairy group Delta Holdings and snacks maker Chipita International.

Vivartia is market leader in a number of food categories in Greece and has operations in 29 countries.