Finish meat company HK Ruokatalo has said that it intends to acquire the remaining shares in its Estonian subsidy Rakvere Lihakombinaat by means of a buy-out procedure.
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The Finnish group told the Helsinki stock exchange that it intends to up its stake from the 95.74% it currently holds, to 100%. At present, there are some 320 minority shareholders who hold 1,6m shares.
The company is offering EEK45.40 (US$3.64) per Rakvere share.
HK Ruokatalo said that it has had a minority holding in Rakvere Lihakombinaat since 1998 and has developed the company “in a long-term manner”. The acquisition of the remaining shares is designed to enhance the company’s intra group decision-making and management.
The procedure has been initiated today (26 June), and at the first stage Rakvere Lihakombinaat’s management board will call general meeting of shareholders to decide on the matter.
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By GlobalDataA similar procedure was completed in Poland, where Ruokatalo redeemed minority shares in meat company Sokolów.
