Greek-based group Loulis International Food Enterprises Ltd., the main shareholder at Loulis Romania signed a first form deal with Austrian-based Leipnik Lundenburgen Invest, for the future sale of 60% of the Romanian company.

Loulis Romania is an important player on the milling and bakery market.

In a release informing the Bucharest Stock Exchange, company officials estimate that the transaction will be closed in May 2007, in a deal worth some 50 million euros. The management, according to a press release on Tuesday, will remain unchanged.

Loulis also intends to sell 60% of its operations in Bulgaria.