Under a preliminary agreement reached on July 13, Fonterra is to purchase a new share issue by Rokiskio Suris, the Lithuanian company said in a stock exchange release on Tuesday.
The planned acquisition of a stake in Rokiskio Suris by New Zealand's dairy giant Fonterra will help the Lithuanian dairy company to expand its product range and strengthen its position in the global market, Rokiskio Suris Chairman Dalius Trumpa said on Tuesday.
"This is the most important event in Rokiskio Suris' history, because we become a partner, not only in trade, but also in equity, of a leading global dairy industry company that is the clear leader in exports. Since our business focuses on exports, this is very important for us," he told BNS.
Trumpa expects that Fonterra's investment will help Rokiskio Suris to launch new products and strengthen its position in the global dairy market.
"There are many plans. The key focus will be on making products with a higher value-added. The arrival of such an investor will definitely reinforce our position. One thing is to be the biggest in Lithuania and another is to be part of a global giant," he said.
Rokiskio Suris is quoted on the blue-chip Main List of the Nasdaq Vilnius stock exchange.
