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Thursday, 1 August 2019

Edita BoD to probe ending contract with Greece’s Chipita

DISPUTE WATCH- Edita to probe ending contract with Greece’s Chipita: Edita Food Industries is probing a dispute over a “manufacturing and services contract” with Greek snack maker Chipita, the company said in a bourse disclosure (pdf). Edita’s chairman and managing director have been mandated with evaluating the situation and “specifying the necessary legal course.” The company said it had not received any technical support, despite a contract valued at USD 150k a year that it had signed in April 2011 with Chipita. The contract was annulled under an informal agreement in 2016, but appears to still be in force. No further details were provided. Chipita co-founded Edita with the Berzi family in 1996. The Greece-based company’s Exodur Limited owned (as of August 2019) 13% of the leading Egyptian snack maker, after selling some of its shares when Edita went public in 2015.

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