The employee owners of Taimen Oy, whose combined holding in Taimen is 66.8 per cent, have made an agreement to sell their Taimen shares to a new owner outside the company. As a consequence, Apetit has decided not to use its right of redemption but to sell its own 23.7 per cent holding in Taimen to the same buyer on corresponding terms under the joint sale conditions of the shareholder agreement. The transaction is expected to be completed in October.
Apetit will book a non-recurring loss of EUR 3.9 million on the transaction in the third quarter of the current year for the Food Business. The profit impact of the associated company Taimen Oy in January-June 2015 was EUR 0.0 million and correspondingly EUR 0.3 million in full year 2014.
Apetit Plc
Juha Vanhainen
CEO
Further information:
Juha Vanhainen, CEO, Apetit Plc, tel. +358 10 402 00
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www.apetitgroup.fi
Apetit - Delicious wellbeing. Apetit is a Finnish food company whose mission is to offer delightfully satisfying flavours and service experiences. Our product groups cover frozen vegetables and frozen ready meals, fresh fish and fish products, ready-to-use fruit and vegetable products, and grains and vegetable oils. The company's shares are listed on Nasdaq Helsinki Ltd. In 2014, the company’s net sales were EUR 385 million and it employed an average of 723 people. www.apetitgroup.fi