FDBusiness.com

Glanbia Co-op Approves €224 Million Share Spin-out and Sale

 Breaking News
  • Bord Bia’s 2018 Brexit Barometer Results The Irish Government has launched the Bord Bia 2018 Brexit Barometer, a comprehensive survey of 117 Irish food, drink and horticulture companies, representing 48% of the sector’s exporters to the United Kingdom. Over 100 senior industry representatives attended the launch in Bord Bia to hear the report findings. The purpose of the Brexit Barometer is to assess [...]...
  • Cargill Invests in Mouscron Facility to Meet Demand For Belgian Chocolate With the rapid rise in consumer demand for premium, high quality Belgian chocolate, Cargill has invested in a new liquid chocolate production line in its Mouscron production facility in Belgium. This investment increases the company’s capacity to produce milk and dark chocolate and creates up to 10 new local jobs. Cargill’s cocoa and chocolate business will [...]...
  • Heineken Makes Biggest Ever Investment in UK Pub Estate Heineken UK is making its largest ever annual investment in Star Pubs & Bars, investing £44 million during 2018. This investment is more than double the figure invested last year (£20 million) and brings Heineken’s total expenditure on pubs to almost £140 millioin over the past five years.Around a quarter of Star’s 2,900 pubs will [...]...
  • New Starter Culture Secures Mild and Creamy Soft Cheeses Chr. Hansen’s latest launch helps cheesemakers to produce soft cheese that maintains the desired taste and texture. The extension to the DVS® SSC series is the latest addition to Chr. Hansen’s soft cheese starter culture range. The product series now consists of four cultures and is designed to create soft cheese with a mild flavor and [...]...
  • TOP Develops Technology Platform For Dairy Farmers TOP from Wageningen in the Netherlands is developing a technology platform that enables dairy farmers to sell bottled milk from individual cows. With the technology it will be possible to pasteurize and package bottles of milk from individual cows. Dutch consumers will soon be able to buy milk from their very own favourite cow. In the [...]...

Glanbia Co-op Approves €224 Million Share Spin-out and Sale

Glanbia Co-op Approves €224 Million Share Spin-out and Sale
December 17
12:52 2012

Glanbia Co-operative Society members have resoundingly approved a €224 million share spin-out and sale of Glanbia plc shares after a ballot. Following the share spin-out and sale, the Society will hold a 41.4% stake in Glanbia plc, worth over €920 million.

The Society currently owns 51.4% of Glanbia plc. The Society will proceed with the placing of 3% of the issued share capital of the plc. The share spin out of 7% of the issued share capital of the plc to members is expected to be completed in March 2013, enabling members to either hold or sell these plc shares depending on their individual circumstances.

Glanbia plc and the Society recently formed a joint venture – Glanbia Ingredient Ireland. The joint venture incorporates the business and assets of Dairy Ingredients Ireland, a business unit of the Dairy Ireland segment of Glanbia plc, including its 45% share of the Corman Miloko Ireland joint venture and its 23% shareholding in the Irish Dairy Board. The new joint venture, is 60% owned by the Glanbia Co-operative Society and 40% owned by Glanbia plc. Glanbia Ingredients Ireland  is the largest dairy ingredients processor inIreland, assembling a milk pool of 1.6 billion litres and processing it into about 180,000 tonnes of dairy ingredients largely for export to over 50 countries worldwide.

Society Chairman, Liam Herlihy comments: “The vote concludes an historic and transformative process for the Society and its members. Members will directly hold €157 million of value in Glanbia plc and the Society has the benefit of having cash resources, a 60% direct stake in a world class dairy business and 41.4% of Glanbia plc. This is a fitting return for members’ investment over many years and for their unprecedented commitment, goodwill and support during this approval process.”

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • June 25, 2018Packaged., The 7th Global Summit
  • September 5, 2018Int'l Food Products and Processing Technologies Exhibition (WorldFood Istanbul)
  • September 15, 2018iba
  • September 25, 2018PPMA Show 2018
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements