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VION to Acquire Remainder of Moksel Shares

18 February 2011

GERMANY - Europe's largest meat processor, VION is streamlining its corporate structure by acquiring the remaining five per cent of shares in the A. MOKSEL AG.

The acqisition will be by way of a statutory squeeze-out process.

This process will be carried out in accordance with the regulations of the German Act on Public Companies.

VION said it will work closely with the A. Moksel management and supervisory board to support them in this process.

It is currently anticipated that VION will take the final resolution on the squeeze-out at the next annual shareholders’ meeting.

VION said that completion of the overall process could take up to a year.

The acquisition of the remaining shares will eventually lead to a de-listing of A. Moksel AG.

The process will not have any direct implications for the activities of A. Moksel AG or its employees, VION said.

The company added that A. Moksel AG is an important part of VION Food Group and VION is committed to its presence in Germany and its role as a major employer.

TheMeatSite News Desk

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