The board of Kerry Co-op is examining a proposal which it says would bring liquidity to shareholders.
On Monday, the board was given details of the plan to convert co-op shares into Kerry Group shares for members.
Kerry Co-op is the largest shareholder in Kerry Group, with a 13.7 per cent holding in the plc, worth around 2.3 billion euro.
The co-op itself has more than 13,000 members.
A spokesperson for the board of Kerry Co-op has confirmed it received the proposal to convert members’ shares into Kerry Group shares – describing it as a plan ‘to bring liquidity to shareholders’.
He says the board plans to hold further meetings this month and next to discuss the plan.