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Greencore to sell malt business for up to €116m

Greencore has signalled a further move away from its Irish business and an increasing focus on the UK and US convenience food markets with the announcement that it is to sell its malt business to French co-operative Axéréal Union De Coopératives Agricoles in a deal worth up to €116.25 million. The disposal, which had been flagged, will net the Irish-listed company €112 million upon completion, subject to a €5 million reduction for net debt and about €5.6 million to fund a pension deficit at its UK pension scheme.

written on 12.02.2010 um 18:33.


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