HKScan, a subsidiary of LSO Osuuskunta and part of the LSO Group, has announced plans to reorganise its Finnish business into a holding company structure.
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In a regulatory filing, the food group said that the move will streamline financial reporting and internal supervision in the business, allowing its operations in various markets to remain separate from the parent company.
HKScan’s sales markets include Finland, Sweden, Estonia, Latvia, Lithuania, Poland, Denmark, the UK and Russia.
The reorganisation will see the company’s production-related property, plant and equipment in Finland as well as its holdings in subsidiaries and associates transferred to HKScan Finland Oy, a holding company wholly owned by HKScan Corporation.
The reorganisation is technical and legal in nature and it will have no effect on operational activities, the company emphasised. HK Ruokatalo Oy and LSO Foods Oy, the companies responsible for the Group’s Finnish business, will carry on “as before” and there will be no impact on jobs or the status of the listed parent company or its shareholders.
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By GlobalData
