5 July 2006 - FLEXNEWS has obtained confirmation that Elgeka, a company operating in the food sector, has agreed to acquire 20% of bakery and biscuit producer Elbisco Holdings for 19 million euro.
According to an announcement published by Elgeka on 3 July 2006, Elbisco's shareholder Dafnos Holding will transfer its shares to Elgeka by 20 August 2006.
As part of the agreement, Elgeka will purchase another 14% in the biscuit maker during the second quarter of 2008. The price of the stake will be determined in accordance to Elbisco's financial performance in 2006 and 2007.