Companies respond to crisis in Greece

Greeks woke up to closed banks and cash machines on Monday as a breakdown in talks between Athens and its creditors plunged the country into crisis.

Following are reactions from companies (in alphabetical order):

ADO

German real-estate company Ado Properties on Monday postponed its initial public offering until further notice citing market volatility caused by the Greece crisis. It had aimed to raise at least 400 million euros ($444 million) in a listing planned for June 30.

ARLA

"With banks closing and increased challenges for retailers to pay on time or at all, we have reduced our risk by reducing our stocks and only importing goods that we know we can sell," the dairy company told Reuters in emailed comments, when asked about its plans in Greece.

"We have withdrawn most of our capital from Greece as of last week, only keeping enough money to pay salaries, taxes.

"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 could be cut in half."

BARILLA

A spokesman for the Italian pasta maker said on the situation in Greece: "No matter what happens in the country, we will continue to do business there. Our presence is significant ... We will not exit Greece."

Barilla has a factory, a mill and a commercial office in Greece. The company has agreements with local farmers to buy durum wheat.

DELHAIZE

The Belgian food retailer said sales had increased in Greece since the start of the year and also said there were no supply issues and customers could still pay by cash or card.

The company, which has 308 stores in Greece, opened 17 stores in the country in 2015 and plans to open more this year.

DEUTSCHE PFANDBRIEFBANK

Deutsche Pfandbriefbank on Monday postponed plans for an initial public offering following a slide in international stock markets sparked by a weekend showdown between Greece and its international creditors.

DNB

Norway's largest bank, DNB , said on Monday: "We are very comfortable. We have a little set-up in Athens to serve our shipping clients, but our total exposure is marginal."

FRIESLANDCAMPINA

One of Europe's biggest dairies, FrieslandCampina said it had boosted stocks of condensed milk and infant formula in Greece in anticipation of hoarding by consumers.

RBI

Greece will have no direct impact on Raiffeisen Zentralbank [RZB.UL] as the Austrian banking group has no direct exposure to the country, CEO Walter Rothensteiner said. He described a fall of more than 14 percent in the shares of listed unit Raiffeisen Bank International early on Monday as "irrational".

THOMAS COOK

The British tour operator said a Greek exit from the euro zone would have little impact on holidays customers had already booked with the company as all pre-paid services are provided by Thomas Cook.

"We have existing contracts with hotels and airlines and we are comfortable that there is enough cash within (the) destination to continue to provide the quality holidays our guests have booked."

The company also said its customers currently in Greece were experiencing no disruption to their holidays.

UNITED BULGARIAN BANK

United Bulgarian Bank, a subsidiary of National Bank of Greece , is seeing slightly more clients than usual turning lev currency deposits into euro ones and ordering transfers to other banks, its chief executive said.

But Stilian Vatev added: "Business as usual. We do not have any worries. The situation is calmer than excepted following the news from Greece."- Reuters