Completion of Brazilian Acquisition
Released : 14 Aug 2018 07:00
RNS Number : 6698X
Origin Enterprises Plc 14 August 2018
Completion of Brazilian Acquisition
14 August 2018
Origin Enterprises plc, the Agri-Services Group, ('Origin' or 'the Group'), announces today that it has completed the acquisition of a 65 per cent controlling interest in the Brazilian based speciality nutrition and crop inputs business, Fortgreen Commercial Agricola Ltda.
('Fortgreen'), following the satisfaction of all conditions.
The separate transaction to acquire a 20 per cent shareholding in the Brazilian based agronomy services and crop input distribution business, Ferrari Zagatto E Cia. Ltda., ('Ferrari'), is expected to complete during the first half of the 2018/2019 financial year.
Fortgreen and Ferrari ('the Transactions') underline Origin's strategic priority to scale its technology and service portfolios in markets which provide tangible growth opportunities. The Transactions also provide the platform to address the Group's requirements for meaningful geographical diversification and seasonality balance.
Further details of the Transactions are set out in the RNS announcement dated 19 June 2018.
As previously indicated Origin will issue its Preliminary Results Announcement for the Year Ended 31 July 2018 on 26 September 2018.
ENDS
Enquiries:
Origin Enterprises plc Peter Dunne
Group Finance Director
Tel:
+353 (0)1 563 4959
Andrew Mills
Investor Relations Officer
Tel:
+353 (0)1 563 4900
Goodbody (ESM Adviser)
Tel: +353 (0)1 641 6019
Siobhan Wall
Davy (Nominated Adviser)
Tel: +353 (0)1 614 9993
Anthony Farrell
Numis Securities (Stockbroker)
Tel: +44 (0)20 7260 1314
Stuart Skinner
Powerscourt (Financial PR Adviser)
Jack Hickey (Ireland) Rob Greening (UK) / Jana Tsiligiannis (UK)
Tel: Tel:
+353 (0)83 448 8339 +44 207 250 1446
About Origin Enterprises plc
Origin Enterprises plc is a focused Agri-Services group providing specialist On-Farm Agronomy Services, Digital Agricultural Services and the supply of crop technologies and inputs. The Group has leading market positions in Ireland, the United Kingdom, Belgium, Brazil, Poland, Romania and Ukraine. Origin is listed on the ESM and AIM markets of the Irish and London Stock Exchanges.
ESM ticker symbol: | OIZ |
AIM ticker symbol: | OGN |
Website: | www.originenterprises.com |
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END
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Origin Enterprises plc published this content on 14 August 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 14 August 2018 06:05:03 UTC