ECONOMY

CVC acquires Vivartia from MIG for €600 mln

cvc-acquires-vivartia-from-mig-for-e600-mln

CVC Capital has obtained full control of Greek food giant Vivartia through a 600-million-euro deal with owner Marfin Investment Group, following the MIG board’s decision to approve the transfer.

The agreement provides for the payment of €175 million in cash, of which €161 million will go to MIG and the rest to minority shareholders, and for the undertaking of debts amounting to €425 million.

MIG will pay a considerable part of its takings in cash to Piraeus Bank toward its loan dues, and has agreed with the lender for the extension of the remainder of its debts by another three years.