August 10, 2017 / 11:20 AM / 12 days ago

BRIEF-Sovereign Food Investments updates on proposed delisting

Aug 10 (Reuters) - Sovereign Food Investments:

* ‍ENTERED INTO AN IMPLEMENTATION AGREEMENT WITH CAPITALWORKS PRIVATE EQUITY SP GP PROPRIETARY LIMITED​

* BIDCO WILL MAKE TWO SEPARATE OFFERS TO ACQUIRE ALL OR A PORTION OF SHARES IN SOVEREIGN, EXCLUDING SHARES HELD BY SOVEREIGN'S SUBSIDIARIES​

* CONSIDERATION FOR EACH OFFER SHARE WILL BE SETTLED IN CASH, AT R12/SHARE OR THROUGH ISSUE BY BIDCO OF LINKED SHARE 1 SHARE AND 1 BIDCO PREF, AT R12/SHARE

* ‍IRREVOCABLE UNDERTAKINGS IN SUPPORT OF OFFER REPRESENTING 50.85% OF OFFER SHARES, HAVE BEEN OBTAINED​ Source text for Eikon: Further company coverage:

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