February 20, 2018 / 8:15 AM / 3 months ago

BRIEF-Forfarmers Creates Joint Venture With Tasomix In Poland

Feb 20 (Reuters) - FORFARMERS NV:

* REG-FORFARMERS N.V.: FORFARMERS EXTENDS EUROPEAN LEADERSHIP POSITION BY CREATING JOINT VENTURE WITH TASOMIX IN POLAND

* SIGNED A SHARE PURCHASE AGREEMENT WITH OWNERS OF POLISH COMPANY TASOMIX TO ACQUIRE 60% OF THEIR SHARES

* FORFARMERS ACQUIRES A BUSINESS WITH TWO OPERATIONAL PRODUCTION FACILITIES AND ONE NEW FACILITY, WHICH IS UNDER CONSTRUCTION

* AT CLOSING OF TRANSACTION, FORFARMERS WILL MAKE A FIRST PAYMENT OF PLN 234 MILLION (CURRENTLY APPROXIMATELY EUR 56 MILLION)

* FORFAMERS WILL RECEIVE 60% OF SHARES AND PAY PLN 234 MILLION IN CASH

* SECOND PAYMENT WILL BE MADE IN 2021 AND IS DEPENDENT ON ACHIEVING SPECIFIED TARGETS

* AT CLOSING OF TRANSACTION, FORFARMERS WILL MAKE FIRST PAYMENT OF PLN 234 MILLION

* AT CLOSING OF TRANSACTION, FORFARMERS WILL RECEIVE 60% OF SHARES

* AGREEMENT INCLUDES POSSIBILITY FOR FORFARMERS TO OVER TIME OBTAIN REMAINING SHARES.

* TASOMIX IS EXPECTED TO CONTRIBUTE TO 2018 EARNINGS PER SHARE. Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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