Shares of Dixie Toga SA are traded on the São Paulo Stock Exchange.
The total cost of the shares to be acquired in the tender offer, assuming all outstanding shares are tendered, is expected to range between $85m and $90m, based on recent currency exchange rates.
The tender offer is subject to Brazilian regulatory procedures and there’s no assurance that the tender offer will be completed successfully. If successful, management expects this transaction to be completed during the third quarter of 2011.
This transaction isn’t expected to impact management’s earnings guidance for 2011.
Source: Bemis Company
© FoodBev Media Ltd 2024