Arla says has withdrawn most of its capital from Greece, cut stocks

COPENHAGEN (Reuters) - Scandinavian dairy producer Arla, one of the largest in Europe, said on Monday it withdrew most of its capital from Greece last week and reduced its risk by cutting stocks in the country, which is on the brink of default.

A breakdown in talks between Athens and its creditors has plunged the country into crisis and has increased the likelihood that Greece leaves the euro zone if it defaults on loans.

"We will continue our business in Greece no matter what, however if Greece exits the euro, we anticipate that our annual revenue of 30-40 million euros ($33-44 million) could be cut in half," Arla said in an email to Reuters.

 

($1 = 0.8999 euros)

(Reporting by Sabina Zawadzki; Editing by Mark Potter)