Frutarom Boosts Etol Stake

Frutarom Industries (Herzelia, Israel) says it has completed the acquisition of an additional 34.2% stake in natural flavors company Etol (Skofja Vas, Slovenia). The acquisition raises Frutarom’s stake in Etol to 97.6%. Frutarom acquired the initial 63.4% stake in Etol earlier this year “through transactions on and outside the Slovenian stock market” for €22.3 million ($29.6 million), Frutarom says. Buying the additional stake increases Frutarom’s overall investment in Etol shares to €34.6 million. Frutarom says it will in the next few weeks delist...

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