To continue using FE Trustnet please choose an edition:

This site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about cookies on the website and how to delete cookies, see our Privacy and Cookie Policy.

I accept the FE Trustnet cookie policy

For more information Click here

Login

Login

Register

It's look like you're leaving us

What would you like us to do with the funds you've selected

Show me all my options Forget them Save them
Customise this table
You are here: Announcement

Tuesday 18 January, 2011


RNS Number : 6133Z
Reconstruction Capital II Ltd
18 January 2011
 



Reconstruction Capital II Limited ("RC2" )

 

18 January 2011

 

Sale of Agripoint Ltd  

RC2 is pleased to announce that East Point Holdings Limited ("EPH") has completed the sale of 100% of the share capital of Agripoint Ltd ("Agripoint"), the holding company for EPH's cereals trading and storage business, to CHS Europe S.A. ("CHS") for EUR45m.  CHS is owned by CHS Inc., a leading US grains, food and energy company.  

The proceeds of the transaction are to be used by EPH primarily to deleverage its other businesses, for working capital purposes, and to fund investments at Novkabel, its cable manufacturing subsidiary.

In anticipation of the transaction, RC2 had sold back to EPH its 9.41% shareholding in Agripoint for a total consideration of EUR 3,817,539.

For further information, please contact:

Reconstruction Capital II Limited

Ion Florescu / Moritz Fried

Tel: +44 (0) 207 244 0088

 

Grant Thornton Corporate Finance (Nominated Adviser)

Philip Secrett / Robert Beenstock

Tel: +44 (0) 20 7383 5100


LCF Edmond de Rothschild Securities (Broker)

Hiroshi Funaki / Claire Heathfield

Tel: +44 (0) 20 7845 5960

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
DISUBSNRANAAAAR