Loulis Mills gives up Stakes in Romania and Bulgaria

The Greek bakery group sold its 29.5% stake in Titan of Romania for 16.7 million euro for Austrian food industry investment company Leipnik Lundenburger Invest (LLI).

 Loulis
Mills has also agreed to sell its 35.33% stake in Sofia Mel of
Bulgaria. Sofia Mel produces approximately 130,000 tons of flour per
year.

As known last year LLI Euromills
acquired a controlling stake in Sofia Mel.

Also last year, it bought 60% of Titan
from Loulis Mills for 106.4 million lei and later raised its stake to
67.99% in a buyout bid.