Linas Agro Group
Notification on material event
AB Linas Agro Group to strengthen its name in international trade buying 40 pct. shares of Danish company Rosenkrantz A/S
The biggest company of AB Linas Agro Group, AB Linas Agro is buying 40 pct. stake of Danish-based company Rosenkrantz A/S from Baltic Agro Group A/S, owned by Henrik Klindt Petersen, managing director of Rosenkrantz A/S. The agreement will come into force July 1st, 2011, after that AB Linas Agro Group will own 100 pct. shares of Rosenkrantz A/S. The total value of the transaction is around 1 million EUR and payment term within three years.
Panevezys, Lithuania, 2011-06-09 08:00 CEST --
Danish-based international trading company Rosenkrantz A/S focus on grains, feedstuffs, oil seeds, vegetable oils and solid bio fuels and primarily service customers in Europe, Northern Africa and the Middle Eastern region. The company mainly operates from the Baltic ports and a number of ports in the Black Sea area, but is also familiar with many other ports in Europe. All operations are handled and managed by experienced personnel, focusing not least on medium-sized cargoes destined for smaller ports. During three quarters of the financial year 2010/2011the company generated 466 million LTL in revenues.
“Acquisition of 100 pct. shares of Rosenkrantz A/S was in our plans. Rosenkrantz since 1992 has been Linas Agro Group’s marketing arm in international sales and earned good reputation within international traders’ community. After acquisition of the shares, the name of the company will be changed to Linas Agro A/S. This will enable us to strengthen our Group’s name in international market and to know our clients better as well as to make additional cost saving as the trading structure of the Group will be simplified – the Danish company will act as an agent on behalf of AB Linas Agro. We have an excellent team of traders and execution managers in Rosenkrantz, therefore we are not planning major changes in the organization”, Darius Zubas, Chairman of Linas Agro Group, AB says.
Managing director of Rosenkrantz (future Linas Agro A/S), Henrik Klindt Petersen per e-mail firstname.lastname@example.org or per phone +4540343071
Managing director and chairman of AB Linas Agro, Darius Zubas per e-mail email@example.com or per phone +37069821494.