VIVARTIA S.A. announces the signing of a shareholders? agreement for the increase of its participation in its 25% subsidiary EDITA in Egypt, through the acquisition of 5% of its shares by its 100% subsidiary, Chipita Participations Ltd, for the amount of Euro 6,8mil. After the completion of the transaction, VIVARTIA S.A. will own 30% of EDITA.
EDITA is present in the Egyptian market through the production and distribution of croissants and cakes. In 2005, the company?s sales reached Euro 34,3mil and earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to Euro 10,9mil.
The above transaction will contribute to the increase in EPS of Vivartia by Euro0,01 approximately.