Deadline for binding offers for Creta Farms on Mon.

Sunday, 17 November 2019 22:01
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By D. Alexaki

A deadline for binding offers for Greek luncheon meats maker Creta Farms expires on Monday evening, part of a last-ditch effort to keep the once high-flyer producer in business, in the wake of a "family feud" between the two main shareholders, the Domazakis brothers.

The company is already under temporary bankruptcy protection from creditors, with a new hearing set for Dec. 11, 2019.

Three "suitors" appeared in the initial non-binding phase, namely, businessman Theodoros Douzoglou, via the company  SCD Group Ltd; investor Dimitris Vintzileos, who heads up the fund Impala Invest BV and Lime Capital Partners, owned by the Dodoni dairy maker.

A question mark ahead of Monday's deadline is whether Nikas, one of two of the largest such food producers in Greece, will table a binding offer.

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