UK: S Daniels recommends that shareholders approve SFI investment deal
British food group S Daniels has recommended at its extraordinary meeting today that its shareholders support a plan to raise new equity capital of more than £10m from Singapore Food Industries (SFI). The money will be raised by the sale to SFI of 44.4m shares, a 26% stake in Daniels, a deal which was originally announced last month. By underwriting an open offer of 5.58m shares, or 3.3% of the capital, SFI will be investing in total up to £10.5m for a stake of up to 29.9% and the ability to nominate two non-executive directors.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- 2017: three major drivers of M&A strategy
- just-food 2017 Survey - your thoughts on growth
- Food market in 2017: need-to-know US trends
- 2017 - what will shape the UK food sector?
- Could BRF's Turkey move pave way for OneFoods IPO?
- Premier Foods issues profit warning
- UK's Bakkavor plays down IPO "speculation"
- Ferrero insists Nutella not pulled from shelves
- Lindt sees FY sales acceleration on Europe growth
- Unilever sets packaging target