The Austria ’s food company Leipnik-Lundenburger Invest Beteiligungs AG is about to acquire 60% in one of the country’s largest wheat mill Sofia Mel, located in the capital of Sofia . Sofia Mel is owned by the Greek Loulis Group at present. The Austrians will also acquire 60% of the Romanian subsidiary of Loulis. The contract for the two companies is valued at EUR 50mn and the draft agreement has been already signed. The acquisition of Sofia Mel should be approved by the local antitrust watchdog. Sofia Mel posted a net profit of BGN 1.2mn (EUR 611,000) last year against a negative financial position one year ago. The sales of the mill increased by 35.8% to BGN 40.2mn last year.
Source: Intellinews - Bulgaria Today