Completion of Brazilian Acquisition

RNS Number : 6698X
Origin Enterprises Plc
14 August 2018
 

 

 

 

Completion of Brazilian Acquisition

 

 

 

14 August 2018

 

Origin Enterprises plc, the Agri-Services Group, ('Origin' or 'the Group'), announces today that it has completed the acquisition of a 65 per cent controlling interest in the Brazilian based speciality nutrition and crop inputs business, Fortgreen Commercial Agricola Ltda. ('Fortgreen'), following the satisfaction of all conditions.

 

The separate transaction to acquire a 20 per cent shareholding in the Brazilian based agronomy services and crop input distribution business, Ferrari Zagatto E Cia. Ltda., ('Ferrari'), is expected to complete during the first half of the 2018/2019 financial year.

 

Fortgreen and Ferrari ('the Transactions') underline Origin's strategic priority to scale its technology and service portfolios in markets which provide tangible growth opportunities.  The Transactions also provide the platform to address the Group's requirements for meaningful geographical diversification and seasonality balance.

 

Further details of the Transactions are set out in the RNS announcement dated 19 June 2018.

 

As previously indicated Origin will issue its Preliminary Results Announcement for the Year Ended 31 July 2018 on 26 September 2018.

 

 

 

ENDS

 

Enquiries:

 

Origin Enterprises plc



Peter Dunne



Group Finance Director

Tel:

+353 (0)1 563 4959




Andrew Mills



Investor Relations Officer

Tel:

+353 (0)1 563 4900




 

Goodbody (ESM Adviser)



Siobhan Wall

Tel:

+353 (0)1 641 6019




Davy (Nominated Adviser)



Anthony Farrell

Tel:

+353 (0)1 614 9993




Numis Securities (Stockbroker)



Stuart Skinner

Tel:

+44 (0)20 7260 1314




Powerscourt (Financial PR Adviser)



Jack Hickey (Ireland)

Tel:

+353 (0)83 448 8339

Rob Greening (UK) /                  Jana Tsiligiannis (UK)

Tel:

+44 207 250 1446

 

 

About Origin Enterprises plc

 

Origin Enterprises plc is a focused Agri-Services group providing specialist On-Farm Agronomy Services, Digital Agricultural Services and the supply of crop technologies and inputs.  The Group has leading market positions in Ireland, the United Kingdom, Belgium, Brazil, Poland, Romania and Ukraine.  Origin is listed on the ESM and AIM markets of the Irish and London Stock Exchanges.

 

ESM ticker symbol:                OIZ

AIM ticker symbol:                 OGN

 

Website:                                www.originenterprises.com

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
ACQLLFSRTAIVLIT
UK 100