May 30, 2017 / 6:01 AM / 3 months ago

BRIEF-Bell buys 49 pct stake in Hilcona Group to become sole owner

May 30 (Reuters) - BELL AG:

* IS BUYING THE BLOCK OF HILCONA SHARES HELD BY THE TONI HILTI FAMILY TRUST TO BECOME THE SOLE OWNER OF THE HILCONA GROUP

* TONI HILTI FAMILY TRUST (THF) IS TRANSFERRING ITS STAKE OF 49 % IN HILCONA TO THE BELL FOOD GROUP

* THE TRANSACTION WILL BE EXECUTED RETROACTIVELY TO JANUARY 2017, SUBJECT TO THE APPROVAL OF THE RELEVANT COMPETITION AUTHORITIES

* THE PARTIES HAVE AGREED TO KEEP THE DETAILS OF THE TRANSACTION CONFIDENTIAL

* IS INVESTING EUR 30 MILLION IN THE DEVELOPMENT OF A NEW PRODUCTION PLANT FOR CONVENIENCE PRODUCTS IN MARCHTRENK IN THE VICINITY OF LINZ IN AUSTRIA, OFFERING JOBS FOR SOME 100 EMPLOYEES

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Further company coverage: (Gdynia Newsroom)

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