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Synnove Finden ASA and Cardinal Foods AS to merge poultry and egg businesses

by 5m Editor
13 February 2006, at 12:00am

NORWAY - Nordic Business Report-February 13, 2006-Synnove Finden ASA and Cardinal Foods AS to merge poultry and egg businesses. The Norwegian dairy group Synnove Finden ASA said on Monday (13 February) that it had entered into an agreement to merge its poultry and egg business Den Stolte Hane with that of Cardinal Foods AS. The merged business will operate under the name Cardinal Foods and will have a combined turnover of NOK950m. The combined company will hold a 38% share of the Norwegian white meat market and a 16% share of the Norwegian egg market. Synnove Finden will be the second largest shareholder with a 14.2% stake in Cardinal Foods. The largest shareholder is the investment company CapMan, which holds a 52.9% stake. One Norwegian krone (NOK) is worth approximately 0.09 British pounds (GBP). <i>Source: Earth Times</i>

5m Editor