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Folli Follie consortium to control almost half of HellenicFolli Follie consortium to control almost half of Hellenic
18-Feb-2003
Hellenic Duty Free Shops' (HDFS) majority shareholder has accepted a bid for 40% of the retailer from Greek jewellery supplier Folli Follie
Along with Germanos, Folli Follie is lead partner in a consortium that has been pursuing a stake in the duty-free operator for some time.
The consortium offered Greece's Agricultural bank ?8.4 ($9) per share for the stake, representing a premium of almost 6% on the company's value, and will now control almost 50% of HDFS. Agricultural's stake in the company will be reduced to 20%.
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(18-Jul-2006) - The Greek jewellery company now controls over half the stock in formerly state-owned Hellenic Duty Free Shops
(23-Oct-2003) - By Jonathan BrownJewellery supplier Folli Follie has signalled its international ambitions for Hellenic Duty Free Shops after completing the acquisition of a further 20% stake in the Greek duty-free operator.