Final OK from the Cartel Office

The Federal Cartel Office has now officially approved the takeover of additional parts of the agricultural business of Getreide AG by the joint venture DAVA AGRAVIS INTERATIONAL. The authority issued a corresponding announcement on Wednesday. Directly before the AGM AGM of AGRAVIS Raiffeisen AG last week, the Cartel Office indicated that it would give the green light for the plan by AGRAVIS Raiffeisen AG and itsa Danish joint venture partner DAVA.

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The takeover covers around 60 locations and nine companies. Among others, Landhandel Gransee GmbH remains with Getreide AG. If possible, AGRAVIS and DAVA wan to to bring the acquired companies, with around 500 employees, to market by 1 June as an independent group of companies under the name Ceravis AG.

"We are very excited to have the official OK from the Federal Cartel Office and can now drove forwards the operative realisation," explained AGRAVIS chairman Dr. Clemens Grosse Frie. Although the acquisition package is slightly smaller than originally planned, this deal gives AGRAVIS and its Danish partner the opportunity to expand their agriculture business in regions, where they were previously underrepresented, if at all.

In addition, there will be logistical benefits through the port access in Rostock, Stralsund, Wolgast, Kiel and Rendsburg, which can be used in future. "We also have a lot to off farmers and all other market participants. "We would like to continue the trusting relationship that customers shared with the companies in Getreide AG before." said the head of AGRAVIS managing board after receiving the final OK from the cartel authorities.