We have continued interest in EBZ

5 Δεκεμβρίου, 2018
 We have continued interest in EBZ

We have continued interest in EBZ and believe that the business plan to restart Greek sugar production is the only viable solution, creating jobs and building and securing a critical industry in northern Greece. Obviously, this required new direct investments and funding for operations. We have submitted a new binding offer, funded, and unconditional for the bank’s approval. For the time being we are waiting for the banks reply and stand ready to implement the plan as of the next day of the approval, hence well before Christmas this year. The proposal, although confidential can be summarised: • Funded and unconditional proposal for the acquisition of EBZ and in line with the deal agreed in the summer; • Additional funding of €30m to operate the business; • Commitment to Greece as the main production site; • We do not focus on Serbia, Serbian production is bad this year as it was last year, we do not see this as a core market for us; • Operations of 2 plants for sugar production, one plant with conventional white sugar and one plant with organic special high-quality sugar; • We have an operating partner to modernise the sugar production and we have one of the largest sugar traders by our side allowing us to expert sugar well beyond Greece. • 3-year contracts for the farmers who produce sugar beet. Including guaranteed purchase of two other products • We have further started cooperation’s with other Agri producers and with a pharmaceutical company so to produce healthy food, oil and wheat trading, and specialty sugar enriched with vitamins, stevia production; • We are currently looking into bioethanol, a great extension of the sugar operations and well in line with the factories and a great long-term profitable business for the farmers as well as for the people who get new jobs at the factories;


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