• news.cision.com/
  • HKFoods/
  • HK RUOKATALO?S AND DANISH CROWN?S JOINT VENTURE IS PLANNING TO DE-LIST POLISH MEAT COMPANY SOKOLÓW
English

HK RUOKATALO?S AND DANISH CROWN?S JOINT VENTURE IS PLANNING TO DE-LIST POLISH MEAT COMPANY SOKOLÓW

Report this content 
HK Ruokatalo Group Oyj  STOCK EXCHANGE BULLETIN  3 April 2006, 5.30pm


HK RUOKATALO’S AND DANISH CROWN’S JOINT VENTURE IS PLANNING TO DE-LIST
POLISH MEAT COMPANY SOKOLÓW

HK Ruokatalo Group’s and Danish Crown’s joint venture, Saturn Nordic
Holding AB, is to ask the Warsaw Stock Exchange to remove the shares
of meat company Sokolów S.A. from the list. Saturn Nordic Holding will
in this connection launch a public tender offer to the Polish
securities market whereby it offers to acquire the remaining shares in
Sokolów.

Saturn Nordic Holding currently owns 82.45 per cent of the Sokolów
shares listed on the Warsaw Stock Exchange. Sokolów has issued a total
of 101,467,444 shares, with each share conveying one vote.

The public offer is made under Polish securities market legislation
and it applies to all shares not currently owned by Saturn Nordic
Holding. The price offered per share is PLN 5.80 (appr. EUR 1.47). The
subscription period will commence on 12 April 2006 and expire on 11
May 2006.

Saturn Nordic Holding has a majority in Sokolów since September 2004.
The public offer is a further step in the strategic cooperation
between HK Ruokatalo Group and Danish Crown to consolidate ownership
and control of Poland’s leading meat company. HK Ruokatalo Group and
Danish Crown regard their investment as a long-term investment and
intend to re-invest a significant proportion of Sokolów’s earnings
into the company rather than realize them in dividends.

Saturn Nordic Holding does not exclude the possibility of mandatory
squeeze-out of Sokolów’s minority shareholders in a later phase.

HK Ruokatalo Group executes in Sokolów both short and long term
strategy regarding meat processing in the Eastern and Central Europe.
HK Ruokatalo Group trusts joint ownership will foster Sokolów’s good
progress also in future by enhancing Sokolów’s business profile,
growth and expansion on the local and international markets
maintaining the status of an independent entity.


HK Ruokatalo Group Oyj


Kai Seikku
CEO


DISTRIBUTION:
Helsinki Exchanges
www.hk-ruokatalo.fi

Subscribe