Argan Selling Hortex

Argan Capital is planning to sell Poland's largest juice producer, Hortex, setting the minimum price for the company at Euro300 million (US$425m) as it retreats from plans for a stock exchange floatation, a Polish daily reports.

Parkiet daily reports unnamed sources as saying Hortex, which also exports 80% of its frozen fruit and vegetable output to Russia, had 730m zlotys in revenues last year, generating profits of 12m zlotys.