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BRIEF-Imperial Brands Sees No Significant Disruption To UK Ops After P&H Enters Into Administration
November 28, 2017 / 5:56 PM / 15 days ago

BRIEF-Imperial Brands Sees No Significant Disruption To UK Ops After P&H Enters Into Administration

Nov 28 (Reuters) - Imperial Brands Plc:

* ‍IN OCT 2017 PALMER & HARVEY ENTERED A PERIOD OF EXCLUSIVITY WITH CARLYLE GROUP WITH INTENTION OF SECURING SIGNIFICANT CAPITAL INVESTMENT

* ‍DISAPPOINTED TO LEARN THAT DESPITE IMPERIAL‘S ON-GOING SUPPORT, DIRECTORS OF P&H HAVE TODAY APPOINTED ADMINISTRATORS.​

* WAS PREPARED TO EXPLORE FURTHER ALTERNATIVES BUT OTHER PARTIES HAVE BEEN UNWILLING TO PURSUE THESE TO A SUCCESSFUL CONCLUSION​

* ESTIMATE THAT P&H‘S DECISION TO ENTER ADMINISTRATION MAY HAVE A ONE-OFF IMPACT ON GROUP OPERATING PROFIT IN CURRENT FY OF UP TO £160 MILLION​

* ‍DO NOT ANTICIPATE ANY SIGNIFICANT DISRUPTION TO OUR UK OPERATIONS​ Source text for Eikon: Further company coverage:

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