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Danish Crown Discusses Form of Incorporation

by 5m Editor
11 June 2010, at 11:42am

DENMARK - Should Danish Crown become a public limited company? If the company has to pursue a growth strategy, where is the financing going to come from?

This was the starting point for a discussion which kicked off at yesterday's meeting of the Board of Representatives at Herning in Jutland.

Declining supplies, dramatically changing conditions in the financial markets and a desire to create a potential for growth mean that it is an apt time to resume the discussion that first started in Danish Crown in 2005.

This time, the intention is that the debate will result in a decision being made by the members within the not too distant future, and the Board of Representatives certainly threw itself into what proved to be an emotional discussion which touched on deep-rooted historical values.

Some of the alternatives suggested at the meeting included the current cooperative structure and other possible models in the form of various constructions limited by shares, and which offer the possibility of bringing external investors on board.

The debate at yesterday meeting is an important part of Danish Crown’s current strategy work, which is helping to decide the direction Danish Crown will take as a globally oriented food company in the coming years.

Yesterday's meeting can therefore also be seen as a launch pad, which will ensure that the discussions continue at the summer meetings which are held for members later in June.

"It was a very exciting discussion at an interesting point in time, where we are seeing increasing optimism in primary production. Therefore I am also very keen to see how the debate on the form of ownership develops at this summer’s meetings for members where it is on the agenda," said Erik Bredholt, Deputy Chairman of Danish Crown’s Board of Directors.

"I feel it is important to emphasise that no decision has yet been made on the future corporate form. As broad a spectrum of members as possible needs to discuss this issue, and it is they who will decide the future outcome. Our task is to ensure that members have all the facts at their disposal," added Mr Bredholt.

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