PZ CUSSONS PLC Completion of Minerva sale (1527O)
30 Septiembre 2019 - 5:15AM
UK Regulatory
TIDMPZC
RNS Number : 1527O
PZ CUSSONS PLC
30 September 2019
PZ Cussons Plc
("PZ Cussons" or the "Group")
Completion of Minerva sale
Further to the announcement on 29 August 2019, PZ Cussons, a
leading international consumer products group, is pleased to
announce the completion of the sale of its Greek food subsidiary,
Minerva S.A. Edible Oils and Food Enterprises ("Minerva") to Elaia
Zeus Single Member S.A.(1) , a company controlled by Diorama
Investments SICAR SA ("Diorama"), a Luxembourg investment company,
regulated by Luxembourg's Capital Markets Commission. Diorama's
external fund manager is Deca Investments AIFM.
As announced on 29 August 2019, contracts for the sale were
exchanged as part of the Group's new strategy to 'Focus, Scale and
Accelerate'. Completion follows the drawdown of funds by the
purchaser from its financing bank. PZ Cussons received GBP41m(2)
cash consideration for Minerva.
Ends -
Press enquiries
PZ Cussons
Alan Bergin (Interim Chief Financial
Officer) 0161 435 1236
Instinctif
Tim Linacre / Guy Scarborough 020 7457 2020
Notes
(1) The identity of the purchasing entity is a change from that
announced on 29 August 2019 as a result of a re-organisation within
the purchaser's group. The purchasing entity, Elaia Zeus Single
Member S.A., is a subsidiary of the original purchaser announced on
29 August (Mirties Enterprises Company Limited)
(2) Consideration translated from EUR to GBP at spot rate on 28
August of 1.10
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END
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