AGRAVIS general meeting

The Federal Cartel Office gives the ‘green light’: DAVA AGRAVIS INTERNATlONAL will be allowed to take over the agricultural activities of Getreide AG.

DAVA AGRAVIS INTERNATIONAL Holding A/S will be allowed – as planned – to take over large parts of the agricultural trading division of Getriede AG, which has its registered head office in Rendsburg. The Federal Cartel Office has currently signalled its consent to this business transaction. Mr. Clemens Grosse Frie, who is AGRAVIS’ Chairman of the Managing Board, announced this event to about 900 shareholders and guests this morning at AGRAVIS’ general meeting of shareholders in Hamburg. The acquisition then comprises nine companies with about 60 locations altogether, which are mainly located in the Federal States of Schleswig-Holstein, Mecklenburg-Vorpommern, Saxony and Saxony-Anhalt.

“We are pleased that the Federal Cartel Office has given the ‘green light’ and that we can begin the operational implementation as soon as possible. The so-called closing procedure will be prepared now and the formalities like transfers, financial transactions and change of personnel will be implemented soon. We are anxiously hoping that we can start on 1st June 2015, if at all possible. Most of all however, we are pleased that the time of uncertainty is over for about 500 employees.” said Mr. Grosse Frie and Mr. Christian Junker, C.E.O. of the Danish DAVA, who can now implement the purchase together in the joint venture of DAVA AGRAVIS INTERNATIONAL.

Mr. Grosse Frie announced further details to the shareholders, as follows. The companies of Getreide AG that have been taken over shall be active in the market as a legally independent P.L.C. with the name of Ceravis AG. The new Ceravis AG has a turnover of more than € 900,000,000.

The agricultural trade of Gransee and some further locations are not part of the takeover – other than originally planned – and they remain the property of Getreide AG. Ceravis AG – the name combines “cera” for cereals and “vis” for strength or vision – will be managed in future by Mr. Thorsten Pogge, Manager, who has moved from to AGRAVIS Raiffeisen AG Ceravis AG in the role of Chairman of the Managing Board and Mr. Henrik Stilund (DAVA) in the role of C.O.O.

“We as Ceravis will primarily have access to the ports of Rostock, Stralsund, Wolgast, Kiel and Rendsburg as well as to further locations that produce feedstuffs and a functioning seeds business. Everything has combined with an extensive network of agricultural trading businesses to make this transaction very attractive for us.” assessed Mr. Grosse Frie. The German-Danish joint venture could grow considerably in the German market by means of Ceravis AG. At the same time, he expressed great eurphoria by sayng that “We do not expect great profits in the first and second years but we hope to have set ourselves up in such way that we can then report the originally envisaged turnover of € 1,000,000,000 as a recognizable share of the profits.”

AGRAVIS and DAVA have mainly dealt with the East European and Baltic markets together up to now and successfully too. DAVA AGRAVIS INTERNATIONAL earned about € 500,000,000 from the agricultural trade and by selling agricultural machinery in Eastern Europe during the year of 2014. “We now have the opportunity with Ceravis AG of developing our business in regions where AGRAVIS and naturally DAVA were hardly represented previously.” said Mr. Grosse Frie, while confidently looking forward to the future. “We have a great deal to offer to agriculture and also to all of the other participants in the market, as well as to the upstream and downstream branches of industry and to the consuming industry and exporters. We would gladly like to continue the trusting cooperation that the customers have shown appreciatively to the companies of Getreide AG up to now.” added AGRAVIS’ Chairman of the Managing Board, while briefly reviewing the possible alignment of Ceravis in future. “The customers should retain their trusted contacts. We have high esteem for the employees in the individual locations. We want to establish Ceravis AG in the market together with them and we want to convert to the growth mode as quickly as possible” affirmed Mr. Grosse Freie. “Sound advantages arise from a close association with DAVAS AGRAVIS INTERNATIONAL, from which all parties can profit, especially agriculture itself.”

General meeting 2015

General meeting 2015

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