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Vivartia to bid for Everest March 8, 2008

Posted by grhomeboy in Business & Economy, Food Greece.
Tags: , , ,

Vivartia, Greece’s largest food group, said yesterday it would tender for 100% of fast-food chain Everest as part of its 2008 expansion plans.

Everest, with a current market value of 87 million euros, runs a network of 184 fast-food stores in Greece, Cyprus and Romania. Vivartia said it would offer 3.50 euro per share for the fast-food company, a premium of about 15 percent to Thursday’s closing price.

Trading in Everest and Vivartia shares was suspended on Thursday and resumed yesterday. Alkmini, a company set up to bid for Everest, will also make a public offer to buy 100 percent of Olympic Catering, now majority-owned by Everest, for 2.65 euro per share.

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