GREECE: Elve To Buy Subsidiary Oaks
Greek apparel maker Elve Clothing has agreed an acquisition deal with its subsidiary Oaks, according to media reports.
According to the terms of the deal, Elve will buy all shares in 270,000 Oaks for a nominal value of €2.93.
Elve recorded profit of €2.0 million for the first half of 2005, representing a 71.7 per cent increase from last year.
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