Glanbia Ireland disposal update

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 [phone] 

Liam Hennigan, Group Director of Strategic Planning & Investor Relations:  [phone]

Martha Kavanagh, Director of Corporate Affairs:    [phone]

 

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