MIG Group’s subsidiary VIVARTIA announced today that, in the context of strategic reorganization of the VIVARTIA Group, focusing on the development of its activities in Greece after the completion of the acquisition of MEBGAL, a pre-agreement (Term Sheet) was reached for the sale and purchase of 90% of the company VIVARTIA CYPRUS LTD to the Cypriot businessmen Alexis Charalambides and Menelaos Shiacolas with a price consideration of € 42 mm. The 10% of the above mentioned company remains to DELTA S.A. The transaction is, inter alia, subject to the approval of the Board of Directors of DELTA S.A. and to any other approvals required by the competent authorities. Simultaneously, the continuous presence of the products of VIVARTIA in Cyprus will go on.    

Mr. Ioannis Artinos, Chief Executive Officer of VIVARTIA, stated with regard to the transaction: “VIVARTIA CYPRUS is the oldest company of dairy products in Cyprus with a successful route and high quality products, which have won the confidence of the Cypriot consumers. The new shareholding scheme with the experience and the business recognition of Messrs. Charalambides and Shiacolas constitutes a guarantee for the further development of the company”.