Notified on 11 June 2008, with effect on 2 July 2008, this merger operation consists of the acquisition, by GRUPO SEMAPA, through the undertaking Verdeoculto - Investimentos SGPS, SA (henceforth "Verdeoculto"), of exclusive control of the undertaking ETSA - Empresa Transformadora de Subprodutos Animais SA (henceforth "ETSA"), by means of the purchase of its entire share capital.