Arla Foods in discussions to buy the remaining shares in its UK subsidiary
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- 20 October 2006
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Arla Foods amba has entered into negotiations with its British subsidiary Arla Foods UK plc which may lead to a recommended cash offer to purchase the remaining 49% of the shares. Arla Foods amba owns 51% of the shares in the British company.
"We are unable to give more background or further information at this time because of restrictions imposed on us by the City Code on Takeovers and Mergers. All I can say is that our approach is a natural development from the merger in 2003 between Arla Foods plc and Express Dairies. We are now in talks with our British subsidiary about a possible bid for the remainder of the shares. We will make further announcements in due course", comments Arla Foods amba's CEO Peder Tuborgh.
You can click on the following link to see the joint statement, which has been communicated to the London Stock Exchange: http://www.ir.arlafoodsuk.com/arla/financials/regnews/
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Arla Foods is an international dairy company owned by 9,700 farmers from Denmark, Sweden, the UK, Germany, Belgium, Luxembourg and the Netherlands. Arla Foods is one of the leading players in the international dairy arena with well-known brands like Arla®, Lurpak®, Puck® and Castello®. Arla Foods is focused on providing good dairy nourishment from sustainable farming and operations and is also the world's largest manufacturer of organic dairy products.