Raisio plc and Lantmännen Dissolve Joint Ownership
According to the agreement, Lantmännen will hand over its 25% share of the Finnish mill Melia Ltd to Raisio. Raisio will hand over its 50% share of the joint venture GoGreen AB and its 27% share of the Latvian mill company AS Rigas Dzirnavnieks.
28/01/08 Raisio plc and Lantmännen, a Swedish corporation have signed an agreement on ownership arrangements of their jointly owned companies. According to the agreement, Lantmännen will hand over its 25% share of the Finnish mill Melia Ltd to Raisio. In return, Raisio will hand over its 50% share of the joint venture GoGreen AB and its 27% share of the Latvian mill company AS Rigas Dzirnavnieks to Lantmännen. The ownership arrangements are expected to improve Raisio’s operating result by EUR 3-4 million in 2008.
Raisio’s CEO Matti Rihko says: ”With Melia wholly owned by Raisio, we will have better possibilities to develop the leading cereal brand Elovena independently. These agreed ownership arrangements will continue the streamlining of Raisio’s business operations. They will improve profitability, simplify group structure and decision making as well a enhance business management.”
