Between Carlsberg A/S and ConAgra, Carlsberg's partner in Danish Malting Group A/S, an agreement on Carlsberg's acquisition of ConAgra's 50% shareholding has been entered into. Danish Malting Group A/S will consequently be a wholly owned subsidiary of Carlsberg A/S.
The agreement, that will not affect Danish Malting Group A/S, is a result of Carlsberg's wish to secure the production of quality malt for the Group's breweries.
Mr. Sven G. Petersen, chairman of the Supervisory Board of Danish Malting Group, says: "Our co-operation with ConAgra has been excellent. However, as the new ownership structure with increasing supplies to group companies is more compatible with Carlsberg's new strategy with majority ownership in our group companies, we expect improvements in Danish Malting Group's results as well as in Carlsberg's."
Danish Malting Group is domiciled in Vordingborg and produces and sells malt to a number of breweries. The take-over takes effect as from 1 October 1998 and will be reported to the Danish competition authorities.