Food Retail & Distribution

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Sysco Corp terminates merger agreement with US foods

Monday, 29 Jun 2015 08:00am EDT

Sysco Corp:Terminates merger agreement with US foods.Says termination of transaction requires Sysco to pay break-up fees of $300 million to US foods and $12.5 million to pfg.Under terms of the merger agreement, the termination of the transaction requires Sysco to pay break-up fees of $300 million to US foods.Says share repurchases will be in addition to the amount normally purchased to offset benefit plans and stock option dilution.Action also terminates an agreement with performance food group (pfg) to purchase US foods facilities in 11 markets.Says intends to fund these purchases from new borrowings and cash flow from operation.Sysco's board of directors has authorized the company to spend an additional $3 billion to buy back shares.Says intent is to repurchase approximately $1.5 billion in shares in each of the next two years.Share repurchases will be in addition to the amount normally purchased to offset benefit plans and stock option dilution.Says expects to put in place an accelerated share repurchase program.Says Sysco will continue to assess the merits of repurchasing shares over time.Will begin process of redeeming $5 billion of merger-related debt under mandatory redemption provisions contained within notes.Process of redeeming merger-related debt is expected to take no more than 40 days.Believed the merger was the right strategic decision for US, and we are disappointed that it did not come to fruition.

IVS Group SA buys 25 percent stake in CSH Srl for 2.4 million euros

Friday, 26 Jun 2015 01:56pm EDT

IVS Group SA:Acquires minority 25 percent stake in CSH Srl for 2.4 million euros.The operation brings the company's stake in CSH Srl to 100 percent.CSH Srl controls the Coinservice division, already fully consolidated in IVS Group accounts.

MINISTOP completes investment in VINH KHANH CONSULTANCY

Thursday, 25 Jun 2015 04:00am EDT

MINISTOP CO LTD:Says the company injected capital to a Vietnam-based company VINH KHANH CONSULTANCY CORPORATION (VKC), on April 14.Capital injection amount is 146,916 mln dong.To raise voting power in VKC to 51.0 pct (3,498 shares) from 0 pct.

Koninklijke Ahold and Delhaize announce intention to merge

Wednesday, 24 Jun 2015 01:45am EDT

Koninklijke Ahold NV:Ahold and Delhaize announce intention to merge.Anticipated run-rate synergies of 500 million euros per year.Transaction is expected to be completed mid-2016, following regulatory clearances, associated consultation procedures and shareholder approval.Ahold shareholders will own c. 61 pct of combined company's equity and delhaize shareholders will own c. 39 pct of combined company's equity.Merger will create a complementary base of more than 6,500 stores with 375,000 associates.Mats Jansson, chairman of Delhaize Group, will become chairman of Ahold Delhaize.Dick Boer, chief executive officer of Royal Ahold, will become chief executive officer.At completion, Delhaize shareholders will receive 4.75 Ahold ordinary shares for each Delhaize ordinary share.

Koninklijke Ahold and Delhaize announce intention to merge

Wednesday, 24 Jun 2015 01:45am EDT

Koninklijke Ahold NV:Ahold and Delhaize announce intention to merge.Anticipated run-rate synergies of 500 million euros per year.Transaction is expected to be completed mid-2016, following regulatory clearances, associated consultation procedures and shareholder approval.Ahold shareholders will own c. 61 pct of combined company's equity and delhaize shareholders will own c. 39 pct of combined company's equity.Merger will create a complementary base of more than 6,500 stores with 375,000 associates.Mats Jansson, chairman of Delhaize Group, will become chairman of Ahold Delhaize.Dick Boer, chief executive officer of Royal Ahold, will become chief executive officer.At completion, Delhaize shareholders will receive 4.75 Ahold ordinary shares for each Delhaize ordinary share.

Diplomat Pharmacy, Inc expands hepatitis c specialty services with acquisition of Burman's Specialty Pharmacy

Friday, 19 Jun 2015 03:54pm EDT

Diplomat Pharmacy, Inc:Says transaction is expected to be accretive to Diplomat's earnings per share in 2015.Says under the terms , Diplomat is acquiring burman's for $72.8 million cash and $10 million in Diplomat common stock.Says Burman's executive leadership will remain in place as their services expand under diplomat's ownership.Funded cash component of purchase price with cash on hand along with use of its existing credit facility.Diplomat funded cash component of purchase price with cash on hand along with use of its existing credit facility.Entities receiving Diplomat common stock as part of deal to be subject to some lock-up restrictions, atleast 6 months after closing.

DELICA FOODS subsidiary to acquire asset

Monday, 15 Jun 2015 10:30pm EDT

DELICA FOODS CO LTD:A Tokyo-based subsidiary to acquire equipment and asset at 1,300 million yen in total in March 2016.

KOBE BUSSAN subsidiary to acquire stake in Tokyo-based company

Wednesday, 10 Jun 2015 02:15am EDT

KOBE BUSSAN CO LTD:Subsidiary G.communication to acquire 46,334 shares of Tokyo-based company Rinsho-Kanpou and to increase voting rights in it to 66.7 pct from 0 pct.Transaction amount is not disclosed.Effective June 10.

Marr buys 100 pct of Sama Srl, company specialized food supply

Monday, 1 Jun 2015 05:18am EDT

Marr SpA:Buys 100 percent of Sama Srl, an Italian company specialized in food products supply to bars and fast food operators.Deal value is 1.7 million euros 60 percent of which to be paid on closing and the reminder over two years time.

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