A/S Trigon Agri: acquisition of the largest dairy farm in Estonia
With the following A/S Trigon Agri announces that, through its subsidiary AS
Trigon Dairy Farming, it has signed preliminary purchase agreements for the
acquisition of 97.8676% of shares of AS Väätsa Agro in Estonia from ACC
Conquistador Holdings, Ltd and for the acquisition of all claims of Hanseatic
Capital Estonia OÜ, Swedbank AS and Swedbank Liising AS against AS Väätsa Agro.
AS Väätsa Agro is the largest milk production farm in Estonia in terms of milk
quota with an annual quota of 13.9 million litres of milk. The farm currently
farms 4,160 hectares of land, including 1,718 hectares in direct ownership and
304 hectares of land under long-term lease agreements from the Estonian State
(usufruct), with the remainder being rented mainly from private persons. The
farm currently has 3,386 dairy animals, including 1,685 milking cows. The farm
is a neighbouring farm to Trigon Agri’s Kaiu milk production farm in Estonia,
allowing for substantial operational synergies.
The completion of this acquisition is subject to the satisfactory outcome of due
diligence, the approval of the transaction by the Board of Directors of AS
Trigon Agri, the approval by the Supervisory Board of AS Trigon Dairy Farming
and approval of the Estonian Competition Authority.
Further information of the progress of this transaction and the asset structure
of AS Väätsa Agro will be provided in due course in the form of stock exchange
releases.
Investor enquiries:
Mr. Ülo Adamson, President and CEO of Trigon Agri A/S
Tel: +372 66 79200
E-mail: mail@trigonagri.com
About Trigon Agri
Trigon Agri is a leading integrated soft commodities production, storage and
trading company with operations in Ukraine, Russia and Estonia. Trigon Agri’s
shares are traded on the main market of NASDAQ OMX Stockholm. Trigon Agri is
managed under a management agreement by Trigon Capital, a leading Central and
Eastern European operational management firm with around USD 1 billion of assets
under management.
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