Kandia, Romania's third-largest chocolate producer is preparing the merger by absorption with Excelent, a move that will create a new leader on this market. The company has summoned the Shareholders' Extraordinary General Meeting for February 17, when the merger project by which Excelent will absorb Kandia is to be endorsed. Excelent is already the main shareholder in Kandia, with a 62% stake. The merger has been expected since last spring, when investment fund Rivta GMBH gave up control over Kandia for $6 million. ZF
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