Total Produce plc, Europe's leading fresh produce company, is pleased to announce that it has completed the sale of its 25.3% shareholding in Capespan Group Limited (“Capespan Group”) to Zeder Financial Services Limited (“Zeder”) for a cash consideration of €22 million.
On 17 April 2013 Total Produce announced that it had entered an agreement to sell its shareholding following the receipt of an offer from Zeder and the completion by Total Produce of a strategic review of the long term benefits of holding a minority stake.
The sale will give rise to a profit on disposal for Total Produce of an estimated €0.4 million, and the cash proceeds will be used in the continued expansion of the group.
24 April 2013
For further information, please contact:
Brian Bell, Wilson Hartnell PR
Tel: +353-1-669 0030
Ivan Murphy, Davy Corporate Finance
Tel: +353-1-679 6363
Total Produce completes sale of Capespan Shareholding for €22m