Unilever is planning to buy out Greek food company Elais-Unilever, valuing it at 331.4 Euro's (£224m).

The consumer foods giant is offering 24.50 Euro's per share (£16.53) to buy out Elais-Unilever, in which it holds a 67% stake.

Last week Unilever agreed to sell most of its frozen foods business for 1.725bn Euro's.