Fortenova Group

TA Advisory FZ LLC: Saif Alketbi Promises to Resist Further Attempts by Fortenova Management to Unfairly Sell Company Assets – and Offers a Solution

Retrieved on:

Wednesday, June 28, 2023

Mr Alketbi, Fortenova’s largest shareholder, is closely monitoring Fortenova management's next moves, together with his legal team.

Key Points:

Mr Alketbi, Fortenova’s largest shareholder, is closely monitoring Fortenova management's next moves, together with his legal team.
In a letter to international investment bank Lazard on 16 June 2023, Mr Alketbi declared a significant interest in acquiring Fortenova Group MidCo.
This is an onerous debt burden, and attempts by Fortenova Group’s management to blame this on the company's ownership structure are at odds with reality.
Mr Alketbi is advised by lawyers TA Advisory in Dubai, as well as legal counsel in other jurisdictions.

TA Advisory FZ LLC: Saif Alketbi Expresses Strong Interest in Acquiring Fortenova Group

Retrieved on:

Wednesday, June 21, 2023

Professional Services, Finance, ART, Sberbank, Sale, Lazard, Massachusetts General Court, General Court, Letter, SBK, United Arab Emirates, Cryptocurrency, Auction, Security (finance), EU, Fortenova Group

Saif Jaffair Markhan Alketbi expressed his strong interest in acquiring Fortenova Group MidCo.

Key Points:

Saif Jaffair Markhan Alketbi expressed his strong interest in acquiring Fortenova Group MidCo.
Lazard has been previously engaged by Fortenova Grupa d.d., the Croatian operational company of the Group, to support the process for examining interest by potential investors for purchase of Fortenova Group MidCo B.V., one of the Dutch companies through which Fortenova Grupa is held.
As I expressed in my letter to Lazard on June 16, I am strongly interested in acquiring Fortenova Group MidCo.
Given the circumstances, I am keen to help the company come to the ‘alternative solution’ that it has itself requested.”
Mr Alketbi indirectly owns 43.41 percent in Fortenova Group.

TA Advisory FZ LLC: Main Fortenova Group Equityholder Alleges Management Actions Enable Open Pass to Gain Absolute Ownership Control Over the Company

Retrieved on:

Friday, June 16, 2023

Professional Services, Finance, Enterprise, ART, Lawyer, Sale, Republic, Collection, Hearing, White Knight, SBK, United Arab Emirates, Security (finance), Cryptocurrency, Auction, Fortenova Group

Mr Alketbi is advised by lawyers TA Advisory in Dubai, as well as legal counsel in other jurisdictions.

Key Points:

Mr Alketbi is advised by lawyers TA Advisory in Dubai, as well as legal counsel in other jurisdictions.
In April this year, Fortenova and its management (including people related to Open Pass) started an unnecessary distressed sale process of the entire business.
It is against this rigged background that Open Pass can now portray itself as a White Knight, supposedly saving the company.
In fact, the situation has been engineered, with management’s help, to enable Open Pass ultimately to gain absolute voting and ownership control over Fortenova on the cheap.

EQS-News: All for One Group SE: Management board of All for One Group SE stands by its growth forecast for 2022/23 // Agenda adopted by a large majority // Stable dividend of EUR 1.45

Retrieved on:

Friday, March 17, 2023

All for One Group SE: Management board of All for One Group SE stands by its growth forecast for 2022/23 // Agenda adopted by a large majority // Stable dividend of EUR 1.45

Key Points:

All for One Group SE: Management board of All for One Group SE stands by its growth forecast for 2022/23 // Agenda adopted by a large majority // Stable dividend of EUR 1.45
The issuer is solely responsible for the content of this announcement.
Filderstadt, 17 March 2023 – The annual general meeting of All for One Group SE, leading consulting and IT Group, has adopted all the proposals submitted by management.
In coming to the meeting, they showed their interest in All for One Group and their willingness to engage in discussions with the management board«.
In derivation, EBIT before M&A effects (non-IFRS) is predicted to be between EUR 27.5 million and EUR 30.5 million (2021/22: EUR 27.3 million).

TA Advisory FZ LLC: Main Fortenova equityholder takes action in Netherlands court to prevent “corporate power grab” by second-largest equityholder

Retrieved on:

Monday, January 9, 2023

On January 3, 2023, Fortenova called a meeting of Fortenova’s depositary receipts holders, scheduled for January 12.

Key Points:

On January 3, 2023, Fortenova called a meeting of Fortenova’s depositary receipts holders, scheduled for January 12.
This seeks to block the proposed changes and to commence an investigation of Fortenova management’s conduct.
Mr Alketbi is also calling on other depositary receipt holders in Fortenova to protect their own rights in Fortenova.
Mr Alketbi is advised by lawyers TA Advisory in Dubai, as well as legal counsel in other jurisdictions.

Nomad Foods Completes Acquisition of Fortenova Group’s Frozen Food Business and Updates Guidance

Retrieved on:

Thursday, September 30, 2021

Nomad Foods Limited (NYSE: NOMD) announced today that it has completed its previously announced acquisition of Fortenova Groups frozen food business (Fortenova Frozen) for a purchase price of approximately 615 million.

Key Points:

Nomad Foods Limited (NYSE: NOMD) announced today that it has completed its previously announced acquisition of Fortenova Groups frozen food business (Fortenova Frozen) for a purchase price of approximately 615 million.
Fortenova Frozen is a leading European frozen food portfolio operating in attractive markets new to Nomad Foods, including Croatia, Serbia, Bosnia & Herzegovina, Hungary, Slovenia, Kosovo, North Macedonia and Montenegro.
Commenting on the transaction, Stefan Descheemaeker, Nomad Foods Chief Executive Officer, said, We are delighted to complete this acquisition and are eager to welcome the team to Nomad Foods.
Nomad Foods (NYSE: NOMD) is Europes leading frozen food company.

Metalloinvest announces election of a new Board of Directors

Retrieved on:

Wednesday, July 7, 2021

Articles, Business, Economy, Agrokor, Fortenova Group, Metalloinvest, Board of directors, Director, Chairperson

Moscow, Russia - 7 July 2021 - Management Company Metalloinvest LLC has elected a new Board of Directors, following a decision of one of its members.

Key Points:

Moscow, Russia - 7 July 2021 - Management Company Metalloinvest LLC has elected a new Board of Directors, following a decision of one of its members.
Following a decision of the Board of Directors, he is appointed Chair of the Remuneration Committee.
He also chairs the Board of Directors of Fortenova Group (Croatia) and is on the Board of Directors of Nornickel.
The Board of Directors of Management Company Metalloinvest has 10 members, including three independent directors:
* Vakhtang Kocharov, Vice Chairman of the Board of Directors, Executive Director

Nomad Foods to Acquire Fortenova’s Frozen Food Business Group

Retrieved on:

Monday, March 29, 2021

Retail, Supermarket, Food, Beverage, Food and drink, Nomad Foods, Convenience foods, Food, NoMad, Manhattan, Fortenova Group, Frozen food, Companies, Industry economics)

Nomad Foods Limited (NYSE: NOMD) announced today that it has entered into an agreement to acquire Fortenova Groups Frozen Food Business Group (FFBG) for aggregate consideration of approximately 615 million on a debt-free, cash free basis.

Key Points:

Nomad Foods Limited (NYSE: NOMD) announced today that it has entered into an agreement to acquire Fortenova Groups Frozen Food Business Group (FFBG) for aggregate consideration of approximately 615 million on a debt-free, cash free basis.
FFBG is a leading European frozen food portfolio operating in attractive markets new to Nomad, including Croatia, Serbia and Bosnia & Herzegovina, Hungary, Slovenia, Kosovo, North Macedonia and Montenegro.
Similar to Nomad, FFBG is singularly focused on frozen food, a fantastic category that is aligned with consumer trends including convenience and sustainability.
This profitable category is highly synergistic with savory frozen food in FFBGs core markets and provides Nomad with new category expertise.

Nomad Foods Enters into Exclusive Negotiations to Acquire Fortenova Group’s Frozen Food Portfolio

Retrieved on:

Monday, January 11, 2021

Food, Beverage, Other Retail, Retail, Supermarket, Specialty, Agrokor, Croatian brands, Food and drink, Companies, Food industry, Nomad Foods, Ledo, Fortenova Group, Frikom

Nomad Foods Limited (NYSE: NOMD) announced today that it has entered into exclusive negotiations to acquire Fortenova Groups Frozen Food Business Group (FFBG), which includes Ledo, Frikom and other leading frozen brands.

Key Points:

Nomad Foods Limited (NYSE: NOMD) announced today that it has entered into exclusive negotiations to acquire Fortenova Groups Frozen Food Business Group (FFBG), which includes Ledo, Frikom and other leading frozen brands.
This prospective transaction is aligned with managements strategy of complementing strong organic growth in the base business with the acquisition of market leading frozen food brands across Europe.
FFBG has a leading European frozen food portfolio of iconic local brands with strong consumer awareness in Croatia, Serbia, Bosnia & Herzegovina and several other countries in Southeastern Europe.
Nomad Foods (NYSE: NOMD) is Europes leading frozen foods company.