Imperial’s net proceeds from the sale are estimated to be between $55m-$60m cash, subject to adjustment based on Wholesome’s working capital and revolving credit borrowings at the time of closing.
Closing of the transaction, which is subject to consummation of the buyer’s debt financing, customary regulatory approvals and certain other closing conditions, is expected to occur in April. Imperial expects to report a gain of $35m-$40m upon completion of the sale.
Wholesome Sweeteners is a provider of organic and fair trade certified sweeteners in America.
Source: Imperial Sugar
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