.png)
25 May 2015, 12:49
The Federal Cartel Office has now also approved the DAVA AGRAVIS INTERNATIONAL joint venture’s takeover of further parts of Getreide AG’s agricultural business absolutely officially. The authority published an appropriate notification on Wednesday. The Cartel Office had already given the ‘green light’ for the project of AGRAVIS Raiffeisen AG and DAVA, which is its Danish partner in the joint venture, immediately before AGRAVIS Raiffeisen AG’s general meeting of shareholders was held last week.
Advertisement.png)
The takeover comprises nine companies with about 60 locations. The agricultural trading company known as Landeshandel Gransee GmbH remains with Getreide AG, as do several others. AGRAVIS and DAVA want to introduce the taken-over companies to the market as an independent corporate group called Ceravis AG by 1st June at the very latest; these companies employ about 500 workers altogether.
“We are very pleased that the Federal Cartel Office has now given us the formal okay and that we can speed up the operational implementation” declared Mr. Clemens Grosse Frie, Ph. D. This deal, which was concluded by AGRAVIS and its Danish partner on the one hand, gives them the opportunity to develop their business transactions with agriculture in regions where they were hardly represented up to now, or indeed not at all, although the takeover package turned out to be slightly less than that envisaged according to the original planning.
Moreover, the deal has given them access to the logistical advantages that are provided by the ports of Rostock, Stralsund, Wolgast, Kiel and Rendsburg, which they will be able to use in future. “We have a lot to offer agriculture and all of the other participants in the market too. We would gladly like to continue – with the support of about 500 workers – the trusting cooperation that the customers have shown to Getreide AG’s companies up to now,” declared AGRAVIS’ Chairman of the Managing Board after receiving the conclusive okay from the Cartel Office.