Advertising
About us
Meet the team
Contact us
Technical papers
Webinars
Privacy
Privacy policy
Cookies
Advertising
About us
Meet the team
Contact us
Technical papers
Webinars
Privacy
Privacy policy
Cookies
Home
News
Business
Appointments
Business listings
Financial
Mergers & acquisitions
Technical papers
ADM’s CFO Luthar to resign as US government investigation looms –
Reuters
23 April 2024
Grupo Bimbo promotes Rafael Pamias to CEO, Daniel Servitje becomes executive chair
22 April 2024
Simon Harrison assumes CEO role at Princes Group
09 April 2024
New CEO strengthens Lyras’ leadership in sustainable food technology
05 April 2024
Tillamook president and CEO to step down
04 April 2024
Little Moons appoints Joanna Allen as new CEO
26 March 2024
JDE Peet’s appoints Luc Vandevelde as interim CEO, sets course for leadership transition
18 March 2024
Constellation appoints Sam Glaetzer to lead wine and spirits business
12 March 2024
Little Moons CEO Mike Hedges departs company with immediate effect
11 March 2024
View all
View all
View all
View all
View all
Industries
Agriculture
Alcohol
Beverage
Dairy
Food
Foodservice
Health
Ingredients
Logistics
Juices
Manufacturing
Marketing
Meat
Packaging
Plant-based
Refreshment
Retail
Seafood
Sustainability
Technology
Canadian start-up Growcer secures $3m to fuel brand expansion
23 April 2024
WWF teams up with Consumer Goods Forum on new tool to tackle food waste
19 April 2024
Research: ‘Forever chemicals’ found in UK fruit and vegetables
10 April 2024
Windfall Bio secures $28m in Series A funding to advance methane capture technology
09 April 2024
PoLoPo unveils SuperAA platform for producing proteins in plants
03 April 2024
BioConsortia raises $15m in funding for advanced microbial solutions
03 April 2024
View all
View all
View all
View all
View all
View all
View all
View all
View all
View all
View all
View all
View all
View all
View all
View all
View all
View all
View all
View all
Refreshment
Coffee & tea
Vending
Water
Publications
FoodBev magazine
Refreshment magazine
The Plant Base magazine
Newsletters
Awards
Events
Multimedia
Galleries
Podcasts
Videos
Opinion
Gallery: New products released in March 2021
08 April 2021
Gallery: World Dairy Innovation Awards 2019
02 July 2019
Gallery: EuVend & Coffeena 2019 at Koelnmesse, Cologne
16 May 2019
Gallery: New beverage releases launched in April 2019
03 May 2019
Gallery: New food products released in March 2019
02 April 2019
Gallery: New beverage releases launched in March 2019
01 April 2019
View all
View all
View all
View all
Menu
Home
News
Business
Appointments
Business listings
Financial
Mergers & acquisitions
Technical papers
Industries
Agriculture
Alcohol
Beverage
Dairy
Food
Foodservice
Health
Ingredients
Logistics
Juices
Manufacturing
Marketing
Meat
Packaging
Plant-based
Refreshment
Retail
Seafood
Sustainability
Technology
Refreshment
Coffee & tea
Vending
Water
Publications
FoodBev magazine
Refreshment magazine
The Plant Base magazine
Newsletters
Awards
Events
Multimedia
Galleries
Podcasts
Videos
Opinion
Glanbia agrees sale of Irish Dairy and Agri businesses
By Shaun Weston
20 April 2010
Categories
Agriculture
Business
Dairy
Financial
Flavours
Ingredients
Key information summary
The Irish Dairy and Agri Businesses comprise three principal business units: Dairy Ingredients Ireland, Consumer Products and Agribusiness, as well as Glanbia Estates, Group Business Services and Irish Joint Ventures and Associates.
The Disposal Proceeds comprise the proceeds of the placing of 102m Glanbia shares held by the Society, adjusted by the Risk Sharing Adjustment as described below and cash of €49.7m.
Glanbia and the Society have agreed a risk sharing mechanism in relation to the Placing Value. The Placing Value will be adjusted by an amount equal to one half of the difference between the Net Placing Price (the proceeds of the Placing, net of all costs, calculated as a per share amount) and €2.65 multiplied by 102m shares. To the extent the Net Placing Price exceeds €2.65, the Placing Value will be adjusted downwards; to the extent the Net Placing Price is less than €2.65, but greater than €2.25, the Placing Value will be adjusted upwards.<
The Disposal Proceeds will be subject to a euro-for-euro working capital adjustment reflecting the difference between the level of working capital in the Irish Dairy and Agri Businesses at completion and €75.3m. Based on the normal working capital cycle for the Irish Dairy and Agri Businesses, working capital at Completion is expected to be approximately €150m which would result in a Working Capital Adjustment of approximately €74.7m.
Read the rest of this Glanbia press release at this link.
Source: Glanbia
Share with your network:
Related topics:
Glanbia
Share
0
Tweet
Share
Share
Print
Email
Related Articles
Glanbia to buy US flavour platform in $300m deal
April 15, 2024
Glanbia CEO Siobhán Talbot to retire
August 16, 2023
FoodBev Weekly News Bulletin – 03/03/23
March 03, 2023
Glanbia proposes €160m sale of mozzarella JV to partner Leprino Foods
March 01, 2023
FoodBev Weekly News Bulletin – 09/09/22
September 09, 2022
Optimum Nutrition launches orange-flavoured energy drink
December 09, 2021
FoodBev Weekly News Bulletin – 12/11/21
November 12, 2021
Glanbia announces sale of its 40% interest in Glanbia Ireland for €307m
November 10, 2021
Drop us a line
Would you like to be interviewed by FoodBev Media or share a recent innovation with us?
Click here to contact us.
© FoodBev Media Ltd 2024