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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
Data provided by FE. Care has been taken to ensure that the information is correct, but FE neither warrants, represents nor guarantees the contents of information, nor does it accept any responsibility for errors, inaccuracies, omissions or any inconsistencies herein. Past performance does not predict future performance, it should not be the main or sole reason for making an investment decision. The value of investments and any income from them can fall as well as rise.