CANADA: Premium Brands sells non-core assets, cash to pay down debt
Richmond, BC-based food processor Premium Brands has announced the completion of a series of transactions involving the sale of non-core assets, which have generated proceeds of C$5.6m (US$3.55m). A nominal gain on the transactions will be recorded in the first quarter of 2002. The majority of the proceeds relate to the sale of Premium Brands' 40% equity interest in hog producer Peace Pork Inc, with the balance coming from the sale of redundant capital assets.
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