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Greece: Yogurt firms ink $6.2M consolidation deal

 |  April 27, 2014

Two Greece-based yogurt firms have inked a deal to consolidate in a merger worth more than $6.2 million, according to reports.

Top dairy firm Delta Foods will acquire a 43 percent stake in MEVGAL, say reports, which will boost the VIVARTIA subsidiary’s stake in MEVGAL to 57.8 percent.

According to reports, the merger could aid MEVGAL in its ongoing financial struggles as both the industry and Greece’s economy face challenging conditions. The merger remains subject to regulatory approval by the Hellenic Competition Commission.

Full content: Greet Reporter

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