ATHENS (Thomson Financial) - Greek consumer goods wholesales Sarantis SA
said that it is close to acquiring a new household producer and distributor in
Hungary to expand its presence in central and south east Europe.
The company said the deal could be finalized as early as this week.
Sarantis currently has a subsidiary in Hungary, which has posted losses in
the past due to its small scale.
Brokers told Thomson Financial News that the south east European region
generates more that 50 percent of Sarantis revenues and an acquisition of a
Hungarian company could offer significant synergies due to economies of scale.
Sarantis management added that the current challenging macroeconomic
environment in central Europe has not affect operations.
nick.skrekas@thomsonreuters.com
ns/jfr
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