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Kerry Co-op not commenting on reports of sale of €240 million worth of Kerry Group shares to partly fund stake in dairy venture

Jan 22, 2021 13:17 By radiokerrynews
Kerry Co-op not commenting on reports of sale of €240 million worth of Kerry Group shares to partly fund stake in dairy venture
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Kerry Co-op is not commenting on reports that it may sell 240 million euro worth of its stake in Kerry. Group in order to

Kerry Co-op is not commenting on reports that it may sell 240 million euro worth of its stake in Kerry.

Group in order to partly fund a majority stake in the global food company’s dairy business.

The Irish Times reports that the co-op may sell 1.2% or 240 million worth of its stake in Kerry Group in order to take control of the latter’s dairy business.

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It was reported this week that Kerry Co-op was on the brink of approving a 480 million euro bid for a majority stake in Kerry Group’s dairy business.

According to today’s Irish Times, this bid would mean that the co-op would have to raise another 240 million euro through debt and other funds.

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