Completion of Disposal (9616K)
July 25 2011 - 2:00AM
UK Regulatory
TIDMPFD
RNS Number : 9616K
Premier Foods plc
25 July 2011
Premier Foods plc
("Premier Foods" or the "Group")
COMPLETION OF THE DISPOSAL OF CANNED GROCERY OPERATIONS
Further to Premier Foods' announcements in respect of the
proposed disposal of its East Anglian canned grocery operations
(the "Business"), the Group now confirms that all of the
pre-completion conditions as set out in the circular to
shareholders dated 7 March 2011 have been satisfied or waived.
Consequently, Premier Foods is pleased to announce that it has
completed the disposal of the Business to Princes Limited for a
cash consideration of GBP182m, on a debt free and cash free basis,
subject to a stock adjustment.
Enquiries
For further information, please contact:
Maitland 020 7379 5151
Neil Bennett
Brian Hudspith
Notes to editors
1 This document contains forward-looking statements which are
based on Premier Foods' current expectations and assumptions and
involve known and unknown risks and uncertainties that could cause
actual results, performance or events to differ materially from
those expressed or implied in such statements. It is believed that
the expectations reflected in these statements are reasonable, but
they may be affected by a number of variables which could cause
actual results or trends to differ materially, including, but not
limited to, factors that are beyond the Company's ability to
control or estimate precisely, such as delays in obtaining, or
adverse conditions contained in, regulatory approvals, competition
and industry restructuring, changes in economic conditions,
currency fluctuations, changes in interest and tax rates, changes
in historical weather patterns, changes in competitive
circumstances, changes in customer or supplier behaviour, changes
in laws, regulations or regulatory policies, developments in legal
or public policy doctrines, technological developments, the failure
to retain key management, the availability of new acquisition
opportunities or the key timing and success of future acquisition
opportunities. Each forward-looking statement speaks only as of the
date of the particular statement. Except to the extent required by
applicable law, the Listing Rules and the Disclosure Rules, the
Company will not necessarily update any forward-looking statement
in the light of new information or future events and undertakes no
duty to do so.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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