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Unilever to absorb and de-list Elais November 14, 2007

Posted by grhomeboy in Business & Economy.
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Olive oil industry Elais, a virtual household name of the Greek food industry, is to be de-listed from the Athens bourse after 66 years, according to the absorption plan by parent company Unilever.

The plan, part of the “One Unilever” program already applied in most other countries by the multinational group, also includes Knorr Bestfoods Hellas, Algida and Unilever Hellas, and is projected for implementation in the first half of 2008. The new company, proposed to be named Elais-Unilever, is estimated to have sales of 500 million euros, with four factories and 1,000 workers.

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