Reykjavik (IFN) Icelandic food processing company Marel announced on Monday that no formal discussions are taking place regarding a merger of Marel and Stork Food System.
Due to media coverage both in the Netherlands and in Iceland regarding a possible merger of Marel and Stork Food System, Marel would like to register that the two companies have had informal discussions regarding a possible closer collaboration between the two of them, Marel said.
Dutch newpaper Het Financieele Dagblad reported on Monday the Marel was interested in buying Dutch Stork NV's food unit and thad Marel has had contact with Stork about a takeover of the food unit and is "financially ready" for a takeover.
As described in Marel's prospectus published on the Icelandic Stock Exchange last September, Marel, along with Eyrir Invest ehf. and Landsbanki Íslands hf., founded last February a holding company, LME ehf., for the purposes of purchasing shares in the Dutch company Stork NV.
The investment was made to contribute to a continuous good collaboration between Marel and Stork NV., as Stork Food System and Marel have worked together closely for the last 8 years. LME ehf.'s holding in Stork NV. has not changed since the publishing of Marel's prospectus, Marel said.
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