INVEPARCO, a holding company owned by CNP - COMPAGNIE NATIONALE A PORTEFEUILLE, belonging to the Belgian businessman Albert Frère and other investors, concluded an agreement with the WORMS & CIE group to take control of the French sugar group SAINT-LOUIS SUCRE (turnover of FF 7.5 billion in 1999). The total value of the transaction was not revealed, but it was carried out on the basis of a valuation of around FF 10.3 billion for 100% of SAINT-LOUIS SUCRE. To do this WORMS & CIE will transfer all of its shares in SAINT-LOUIS (or 99.7% of the capital) to a new company called FINANCIERE FRANKLIN ROOSEVELT specially set up for this purpose. This company will be held at 51.1% by INVEPARCO, 46.9% by WORMS & CIE and at 2% by the management. FINANCIERE FRANKLIN ROOSEVELT will also get the 21% share held by WORMS in the Spanish sugar manufacturer AZUCARERA EBRO AGRICOLAS. Furthermore DISTRIPAR, another subsidiary of the CNP, acquired, for EUR 2.2 million, a 70% stake of capital in the chocolate maker VANPARYS (brands "Corne Port Royal" and "Vanparys" with an annual turnover of EUR 6 million with 40 outlets). See EP of 10 February.