COBALT advised Hedegaard Foods A/S (through parent company DAVA Foods Holding A/S), Danish producer of egg products, which belongs to the leading agriculture group Danish Agro, on receiving the clearance for merging with the biggest Finnish egg company Munakunta, resulting in the creation of the biggest egg production company in the Nordic countries.
In the course of the transaction Muna Foods Oy will be established, to which all the business activities of Munakunta will be transferred. As a result of the transaction both parties will own 50% of the shares in Muna Foods Oy. The objective of the transaction is to promote competition in the markets of Finland and the Nordic countries and ensure the producers better opportunities to service international customers. The group, which also includes the Swedish company Svenska Lantägg AB, will become the biggest egg production company in the Nordic countries with the turnover approximately 170 million euros. The Estonian subsidiaries of Danish Agro group are mainly engaged in the sale of agricultural and forestry machinery and agrochemical products. Munakunta has a subsidiary in Estonia, which is engaged in the production, sale and distribution of egg products.
COBALT advised the merger clearance proceeding in Estonia, including drafted the merger filing as well as represented the client in the Estonian Competition Authority.
The project legal team included partner Kristel Raidla-Talur and associate Greete-Kristiine Kuru.