The Executive Board of Koninklijke Wessanen nv announces that it has sold a share of approximately 30% in Campari S.p.A., the Italian drinks company, at an issue price of EUR 31 per share. Wessanen had a participation of 35% in Campari, the remaining 5% Wessanen has granted as an overallotment option (greenshoe) to Deutsche Bank and UBS Warburg, as joint global coordinators, at the issue price.
Assuming the greenshoe is exercised Wessanen will have sold its entire holding in Campari for gross proceeds of about EUR 315 million with a resultant capital gain of over EUR 100 million.
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Wessanen’s sale was carried out as part of the initial public offering of Campari shares. Trading of the shares on the Milan stock exchange is expected to commence on July 6, 2001.
Wessanen will use the proceeds to further execute its “wellness” strategy of concentrating on healthy, natural foods and specialties for the health and quality conscious consumer.
Executive Board
Koninklijke Wessanen nv
Koninklijke Wessanen nv is a multinational food company based in the Netherlands which operates on the European, American and Asian markets. We market, distribute and produce wellness products which consumers perceive as natural and wholesome, easy to prepare or indulgent. Knowledge of consumer trends and a clear emphasis on innovation are the basis for growth and continuity in all our companies.
Wessanen generates annual sales of EUR 3.9 billion. Shares of Koninklijke Wessanen nv are quoted on the stock exchanges in Amsterdam, London, Frankfurt, Dusseldorf and EBS Switzerland. Sponsored ADRs are traded in the United States.
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