AS Trigon Agri is pleased to announce that it, through its subsidiary AS Trigon
Dairy Farming, on the 4th of April 2012 successfully finalized its previously
announced acquisition of 97.8676% of shares of AS Väätsa Agro.
The total
consideration paid pursuant to the transaction documentation was EUR 7.3
million. The transaction was financed with own equity investment of EUR 2.3
million and bank financing of EUR 5 million. Following to the acquisition AS
Väätsa Agro has outstanding borrowings in the amount of EUR 600 thousand.
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 farmland, 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. Based
on the audited results for the financial year ending 31st December 2011, Väätsa
Agro achieved EUR 6 million in total net revenue and EUR 970 thousand in
EBITDA.
Invitation to press conference
AS Trigon Dairy Farming's
development plans for AS Väätsa Agro will be presented to the media and analysts
by Ülo Adamson, President and CEO of Trigon Agri, and Joakim Helenius, Chairman
of the Board of Directors of Trigon Agri.
When: Wednesday 11th April 2012,
EET 10.00
Where: Trigon Agri office, Viru Väljak 2, Tallinn, Estonia.
The
materials to be presented during the press conference will be published on the
Company’s website on Wednesday 11th April 2012, EET 10.00.
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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