Glanbia PLC Glanbia Ireland disposal update (1192U)
01 December 2021 - 6:00PM
UK Regulatory
TIDMGLB
RNS Number : 1192U
Glanbia PLC
01 December 2021
Glanbia Ireland disposal update
1 December 2021: Glanbia plc, the global nutrition Group
("Glanbia", the "Group" or the "plc") has been informed by Glanbia
Co-operative Society Ltd (the "Co-op") that it will shortly publish
materials ahead of a special general meeting ("SGM") of its members
which is scheduled to take place on 17 December 2021. The SGM is
for Co-op members to approve the acquisition of the plc's 40%
interest in Glanbia Ireland DAC ("Glanbia Ireland" or "GI") by the
Co-op (the "Proposed Transaction") and other related proposals.
Proposed Transaction financing
The Co-op has informed the plc that it is in the position, if
required, to fund the Proposed Transaction through a combination of
existing cash resources and debt facilities. The Proposed
Transaction is not contingent on the sale of plc shares by the
Co-op.
Key terms of the Proposed Transaction as outlined in a previous
announcement on 10 November 2021 are unchanged.
Process, approvals and timing
The Proposed Transaction is subject to execution of legal
contracts and receipt of all necessary shareholder approvals as
well as any applicable regulatory approvals, with completion of the
Proposed Transaction expected to occur in the first half of
2022.
ENDS
For further information contact
Glanbia plc +353 56 777 2200
Liam Hennigan, Group Director of Strategic Planning &
Investor Relations: +353 86 046 8375
Martha Kavanagh, Director of Corporate Affairs: +353 87 646
2006
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