Greek Sugar Industry Attracts Multinational Interest

ATEbank appears satisfied by the developments about the sale of Greek Sugar Industry. The deadline for expression of interest in acquiring 82.33% of the company expired on Thursday and at least five international groups expressed their intention to claim the northern Greek industry, according to sources.

Major players in the global sugar market are formally interested and information indicates that the interest of German companies is particularly strong. NordZucker AG, a leading European producer, is considered among the interested parties.

Moreover, British ED&F MAN is also interested, which has already a strategic partnership with the Greek industry. It is one of the largest companies worldwide, with about 11 million tons annually, representing 25% of the world trade and owns the only two ships carrying sugar exclusively in Mediterranean Sea.

Reportedly, Polish, Serbian and Russian companies participated in the first round of the tender.

Now the process enters a more important phase, which would determine the sale of the sugar company. Adviser EFG Eurobank Equities would assess the necessary information and candidates would be invited to sign a confidentiality agreement.

source: english.capital.gr