I see that the board of Kerry Co-op is set to meet on Friday this week and will hear further details of the proposed joint venture deal currently being negotiated between Kerry Group and Kerry Co-op.
This week’s co-op board meeting comes just two weeks after the last board meeting, which to me is a sign that events are gathering pace in the Kingdom.
Under the proposal being drawn up, Kerry Group will offer milk supplier shareholders in Kerry Co-op the opportunity to buy a 60% majority stake in Kerry Group’s primary dairy business, which has an annual turnover of €1.2bn and makes profits of €80m to €100m per year.
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While it had been mooted that shareholders in Kerry Co-op were in line for a €2.4bn share spin-out as part of the overall proposals, I’ve been informed that a total spin-out of shares is not on the cards.
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I see that the board of Kerry Co-op is set to meet on Friday this week and will hear further details of the proposed joint venture deal currently being negotiated between Kerry Group and Kerry Co-op.
This week’s co-op board meeting comes just two weeks after the last board meeting, which to me is a sign that events are gathering pace in the Kingdom.
Under the proposal being drawn up, Kerry Group will offer milk supplier shareholders in Kerry Co-op the opportunity to buy a 60% majority stake in Kerry Group’s primary dairy business, which has an annual turnover of €1.2bn and makes profits of €80m to €100m per year.
While it had been mooted that shareholders in Kerry Co-op were in line for a €2.4bn share spin-out as part of the overall proposals, I’ve been informed that a total spin-out of shares is not on the cards.
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