Delta Holding (VIVARTIA) and the Cyprus Trading Corporation Public Ltd of the Shacolas Group, have signed a Letter of Intent for the sale to Delta Holding of approx. 25 million shares (or approx. 45.8% of the share capital) of Christies Dairies Public Ltd, listed in the CSE, for a price of 0.30 CYP per share.
Prior to the final agreement being signed, a financial and legal due diligence will take place, while the transfer of shares will be subject to securing the required authorisations from the competent bodies.
In case the above mentioned sale agreement is finalised, a public tender offer for the acquisition of the total shares of Christies Dairies Public Ltd will follow, as per the provisions of Cyprus Law.
It is clarified, that the present announcement is not an announcement for a public tender offer nor does it express an intention to acquire shares of Christies.
Delta Holding will be renamed into Vivartia when the merger through absorption of Chipita International, Goody's, General Frozen Foods and Delta Dairy is completed. Vivartia will be the 35th food company in Europe and the largest company in the sector in Greece. It will employ 13,000 people and its products will procure daily moments of pleasure in 29 countries around the world.