Infortar's subsidiary completed the acquisition of shares in Estonia Farmid OÜ
After receiving an approval from Estonian and Latvian the Competition Authorities, OÜ Infortar Agro (former EG Biofond) fulfilled additional operations and preconditions, OÜ Infortar Agro acquired 96.6% shareholding in Estonia Farmid OÜ. The remaining 3.4% is held by Estonia Farmid OÜ´s subsidiary Osaühing Estonia.
Aktsiaselts Infortar that OÜ Infortar Agro is acquiring 96.6% shareholding in Estonia Farmid OÜ. After receiving an approval from Estonian and Latvian the Competition Authorities, today OÜ Infortar Agro fulfilled additional operations and preconditions, OÜ Infortar Agro acquired 96.6% shareholding in Estonia Farmid OÜ.
“Estonia Farmid OÜ and the Halinga farm in Pärnumaa, acquired last year, undoubtedly belong to the absolute top tier of milk production in Europe — in terms of knowledge, technology, and output. Estonia is a dairy country, and our milk is highly valued throughout the region, and hopefully in the future, it will also become an increasingly important export product.” said Ain Hanschmidt, Chairman of the Management Board of Infortar.
“If we combine the dairy industry with circular economy and renewable energy, and build biomethane plants next to farms, we can produce not only high-quality milk but also Estonia’s own fuel — one that could power not only urban public transport but also heavy-duty transport. Biomethane simultaneously addresses environmental issues in both agriculture and public transport and helps the country as a whole achieve its climate goals,” noted Hanschmidt.
Infortar Agro now cultivates a total of 13,100 hectares of land in the municipalities of Türi, Järva, and Northern Pärnumaa, which accounts for 1.33 percent of Estonia's arable land. The group's dairy farms are located in Central Estonia — in Oisu, Taikse, and Kabala — as well as in Halinga, Pärnumaa, with a total of 8,200 dairy cows and young animals. The average annual milk yield per cow at the Estonia and Halinga dairy farms is among the highest in Estonia, reaching up to 13,000 kilograms. The combined daily milk production of Estonia and Halinga amounts to 160 tons, which represents 6.5 percent of Estonia's total milk output. Infortar Agro employs 220 people.
The transaction is not treated as a transaction beyond everyday economic activities or a transaction of a significant importance, nor as a transaction with related persons, within the meaning of the "Requirements for Issuers" part of the NASDAQ Tallinn Stock Exchange rules. The transaction does not have a significant impact on Aktsiaselts Infortar's activities.
The members of the Supervisory Board and the Management Board of Aktsiaselts Infortar are not personally interested in the transaction in any other way.
Infortar operates in seven countries, the company's main fields of activity are maritime transport, energy and real estate. Infortar owns a 68.47% stake in Tallink Grupp, a 100% stake in Elenger Grupp and a versatile and modern real estate portfolio of approx. 141,000 m2. In addition to the three main areas of activity, Infortar also operates in construction and mineral resources, agriculture, printing, and other areas. A total of 110 companies belong to the Infortar group: 101 subsidiaries, 4 affiliated companies and 5 subsidiaries of affiliated companies. Excluding affiliates, Infortar employs 6,296 people.
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