Fonterra to Exit Minority Stake in AB Rokiškio sūris
Source: The DairyNews
Strategic investor Fonterra has opted to divest its minority stake in AB Rokiškio sūris, aligning with its long-term strategic investment review.
In line with its strategic assessment of investments, Fonterra has decided to divest its minority stake in the share capital of AB Rokiškio sūris. However, cooperation in milk processing and product trading will persist on mutually agreeable terms.
The divestment process entails the sale of 3,586,797 shares of Fonterra (Europe) Coöperatie U.A. to AB Rokiškio sūris at an estimated share price of 2.2 euros per share.
AB Rokiškio sūris intends to repurchase these shares through the official market offer of AB Nasdaq Vilnius Stock Exchange. Shareholders of the company can place orders for the sale of shares, with the number of shares to be repurchased determined proportionally to the shares submitted.
The share repurchase program is slated for May 2024. Upon repurchasing shares equivalent to 1/10 of the company's authorized capital, those shares will be annulled. Subsequently, another public share repurchase will be announced at the same price per share (EUR 2.2 per share). This process will continue until Fonterra (Europe) Coöperatie U.A. has divested all of its 3,586,797 shares to AB Rokiškio sūris.
The divestment process entails the sale of 3,586,797 shares of Fonterra (Europe) Coöperatie U.A. to AB Rokiškio sūris at an estimated share price of 2.2 euros per share.
AB Rokiškio sūris intends to repurchase these shares through the official market offer of AB Nasdaq Vilnius Stock Exchange. Shareholders of the company can place orders for the sale of shares, with the number of shares to be repurchased determined proportionally to the shares submitted.
The share repurchase program is slated for May 2024. Upon repurchasing shares equivalent to 1/10 of the company's authorized capital, those shares will be annulled. Subsequently, another public share repurchase will be announced at the same price per share (EUR 2.2 per share). This process will continue until Fonterra (Europe) Coöperatie U.A. has divested all of its 3,586,797 shares to AB Rokiškio sūris.
