euro adhoc: Valora Holding AG
other
Valora successfully concludes
negotiation of contract to sell Gillebagaren AB
to Continental Bakeries
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Company Information
09.06.2008
. Divestiture of the Group's 4th, and largest, production company in first half of 2008 . Acquisition represents a good industrial fit with Continental Bakeries existing portfolio . Gillebagaren AB's business activities to be developed further
Having recently successfully completed the sale of three of its production companies - Roland Murten AG, Kägi Söhne AG and Cansimag France SA - Valora has now signed very successfully a contract for the sale of its Swedish subsidiary, Gillebagaren AB. The purchaser is Continental Bakeries B.V., one of the leading private label biscuit manufacturers in Europe, with annual turnover of E 250 million. The contract covers the sale of 100% of the share capital of Gillebagaren AB. Continental Bakeries B.V. intends to continue Gillebagaren's current production activities and to develop them further. The firm's employees will remain employed on the same terms as hitherto.
Both parties have agreed not to disclose the sale price. The sale will be finalised once the Bundeskartellamt, the German Federal authority regulating competition issues, has approved the transaction. Negotiations regarding the sale of the highly successful production company Sørlandschips A/S in Norway are currently under way.
This means that Valora's planned divestiture of its Own Brands units is now nearly complete and the Group has thus now successfully focused its energies on its core Retail, Media and Trade Distribution divisions. When Valora's new CEO, Dr. Thomas Vollmoeller, takes up his duties on June 16, he will thus be able to concentrate his full attention on developing the Group's core activities. Kaspar Niklaus will take up the reins at Valora's Retail division on June 23, after which the firm's Group Executive Management team will again be complete.
end of announcement euro adhoc
Further inquiry note:
Valora: Tel: +41 58 789 12 01
Stefania Misteli E-mail: stefania.misteli@valora.com
Continental Bakeries: Tel: +31 786537-601
Ruud van Henten, CEO E-mail: ruud.van.henten@continentalbakeries.com
Branche: Retail
ISIN: CH0002088976
WKN: 208897
Börsen: SWX Swiss Exchange / official market
BX Berne eXchange / official dealing