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Indofood Agri Resources Ltd Announces Proposed Acquisition Of Companhia Mineira De Açúcar E Álcool Participações

Sunday, 27 Jan 2013 04:33pm EST 

Indofood Agri Resources Ltd announced the proposed acquisition (Proposed Acquisition) of a post-closing 50% economic interest in Companhia Mineira de Açúcar e Álcool Participações (CMAA and, together with its subsidiaries, the Target Group). As part of the structuring of the Proposed Acquisition, the Company has incorporated a wholly-owned subsidiary in Singapore, known as IFAR Brazil Pte. Ltd. (IFAR Brazil), which, in its turn, has incorporated a wholly-owned subsidiary in Brazil, known as IndoAgri Brazil Participações Ltda. (IndoAgri Brazil). On January 26, 2013, IndoAgri Brazil, Ápia Sp Participações S.A., a subsidiary of JF Citrus Agropecuária Ltda. (JF Group), ZAM Ventures, L.P. (ZAM) and Fundo de Investimento em Participações PCP (PCP and, together with ZAM, the Sellers), entered into certain definitive agreements in relation to the Proposed Acquisition. In consideration of the Proposed Acquisition, IndoAgri Brazil will pay an aggregate purchase price of approx R$143.4 million (which is equivalent to USD71.7 million). Closing is expected to occur during the second quarter of 2013. The Target Group has been established since 2006 in Brazil and is principally engaged in the cultivation and processing of sugar cane for the production and marketing of ethanol and sugar, as well as cogeneration of electric power from sugar cane bagasse. 

Company Quote

-0.04 -0.65%
11:09pm EDT