Estonia, EU – Baltic States, Foodstuff, Markets and Companies, Mergers and take-overs

Overumans Fisk and Skargardshavets Fisk have agreed upon merger, whereas Overumans Fisk will be the surviving entity and the Skargardshavets Fisk will be merged with Overumans Fisk. All rights, obligations and assets of Skargardshavets Fisk will be fully transferred to Overumans Fisk and Skargardshavets Fisk will be deemed to have been liquidated after the merger has been finalized, writes LETA.

Overumans Fisk, having assumed all operations of Skargardshavets Fisk will continue under the current business name – Overumans Fisk.

The Swedish entities Overumans Fisk and Skargardshavets Fisk are engaged in fish farming and production and the merger has been planned to raise the efficiency of the respective operations of the group in Sweden. Further, the contemplated merger will make the group structure clearer, more transparent and more comprehensive.

On April 4, 2011, Overumans Fisk and Skargardshavets Fisk initiated merger process by filing relevant application with the Swedish Company Registration Office. In order to finalise the merger, the merger needs to be approved by the General Meetings of shareholders of both merging entities. As to this particular merger, the referred issue is the competence of the sole shareholder of the merging entities Premia’s Finnish subsidiary Heimon Kala Oy. Due to legal requirements arising from the Swedish law, the merger can be finalised within three-four months. The final registration of the merger is expected to take place in August 2011.

The contemplated merger of the Swedish entities is an intra-group merger and will not have any material impact of the business activities of Premia group of companies. In the course of the merger, the volume, essence and content of the rights, obligations and assets of Premia group of companies will not change.