Saputo Announces Having Reached A Relevant Interest of Greater Than 50% of Warrnambool, Triggering an Increase in Offer Price...
21 Janvier 2014 - 11:26PM
Marketwired
Saputo Announces Having Reached A Relevant Interest of Greater Than
50% of Warrnambool, Triggering an Increase in Offer Price to
AU$9.20 and an Automatic Extension of the Offer Period
MONTREAL, QUEBEC--(Marketwired - Jan 21, 2014) - Saputo Inc.
("Saputo") (TSX:SAP) announces it has obtained a relevant interest
in the issued shares in Warrnambool Cheese and Butter Factory
Company Holdings Limited ("Warrnambool") of greater than 50% such
that it now has majority control of Warrnambool. As at 7.00pm
(Melbourne time) on January 21, 2014, Saputo had a relevant
interest of 52.702% in Warrnambool shares.
In accordance with Saputo's offer, Saputo will increase the
offer consideration from AU$9.00 to AU$9.20 cash per Warrnambool
share, having reached a relevant interest of greater than 50%
during the offer period.
As a result of Saputo's relevant interest in Warrnambool
increasing to more than 50% and the increase in offer price
occurring within the last 7 days of the scheduled close of the
offer period (which was 7.00pm (Melbourne time) on Wednesday,
January 22, 2014), the offer period is automatically extended
pursuant to Australian law. The offer period is now scheduled to
close at 7.00pm (Melbourne time) on Tuesday, February 4, 2014.
Other than possible automatic extensions required under Australian
law, there will be no further extensions to the offer period.
Rothschild and Rabobank are acting as the financial advisers to
Saputo, and Maddocks and Stikeman Elliott are its legal
advisers.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements within the
meaning of securities laws. These statements are based, among other
things, on Saputo's assumptions, expectations, estimates,
objectives, plans and intentions as of the date hereof regarding
the offer, its anticipated benefits, the number of shares that
Saputo will actually be able to purchase and any change to the
offer period.
Forward-looking statements are based on Management's current
estimates, expectations and assumptions, which Management believes
are reasonable as of the date hereof, and, accordingly, are subject
to changes after such date. You should not place undue importance
on forward-looking statements and should not rely upon this
information as of any other date.
Except as required under applicable securities legislation,
Saputo does not undertake to update or revise these forward-looking
statements, whether written or verbal, that may be made from time
to time by itself or on its behalf, whether as a result of new
information, future events or otherwise.
About Saputo
Saputo produces, markets, and distributes a wide array of dairy
products of the utmost quality, including cheese, fluid milk,
extended shelf-life milk and cream products, cultured products and
dairy ingredients. We are one of the top ten dairy processors in
the world, the largest in Canada, the third largest in Argentina
and among the top three cheese producers in the United States. Our
products are sold in more than 40 countries under well-known brand
names such as Saputo, Alexis de Portneuf, Armstrong, Baxter,
Dairyland, Dragone, DuVillage 1860, Friendship, Frigo Cheese Heads,
Great Midwest, King's Choice, Kingsey, La Paulina, Milk2Go,
Neilson, Nutrilait, Ricrem, Salemville, Stella and
Treasure Cave. Saputo Inc. is a publicly traded company
whose shares are listed on the Toronto Stock Exchange under the
symbol "SAP".
About Warrnambool
Warrnambool produces a range of dairy products for domestic and
export markets. Its products include cheese, butter and butter
blends, milk, cream and dairy ingredients. Warrnambool draws milk
from some of the most productive dairying regions in Australia,
including southwest Victoria, southeast South Australia and the
Fleurieu Peninsula. Warrnambool operates two manufacturing sites
and has over 420 employees. Warrnambool is a public company listed
on the Australian Securities Exchange (ASX Code: WCB).
Media and Investor RelationsSandy VassiadisDirector, Corporate
Communications514-328-3347
Saputo (TSX:SAP)
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