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Hellenic Sugar bids

The winning bid for the acquisition of an 82.33% stake in Hellenic Sugar Industry will be announced by the end of the month with bids from European companies under consideration. Nikos Marantos, the special liquidator appointed to deal with the sale informed the stock market on January 31, said the bank had received valid binding offers from four companies: Cristal Financiere SAS, part of the French group Cristal Union; Krajowa Spolka Cukrowa SA from Poland; Bulgarian firm Litex Commerce JSC; and Sunoko d.o.o. Novi Sad from Serbia. One of the clauses that the buyer will have to abide by is keeping the company’s jobs secure and its plants open. Hellenic Sugar Industry has three sugar factories in northern Greece in Plati, Serres and Orestiada, online news site Kathimerini reported. It holds majority stakes in two subsidiaries in Serbia ( AD Fabrica Secera Crvenka and AD Fabrica Sajkaska), of 80% and 92.32%, respectively. Informed sources said the French and Polish bids have the edge, with Cristal Financiere offering €103 million and Krajowa Spolka Cukrowa showing the greatest interest.


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