Brief: Petra Foods enters settlement agreement with Barry Callebaut
28/08/2015 16:30
Aug 28 (Reuters) - Petra Foods Ltd PEFO.SI : * Entered into a settlement agreement with Barry Callebaut * Settlement in regards to arbitration in relation to the closing price adjustment of US$103 million sought by barry callebaut. * Petra foods- company and barry callebaut have agreed to settle dispute and discontinue arbitration, without any admission of liability by the company or barry callebaut * Barry Callebaut remains entitled to bring any further claims that may arise under these continuing warranties * On the back of the settlement Petra Foods Limited is expected to recognise a one-time exceptional charge of US$19.4 million * One time charge is likely to result in a net loss for 3q 2015 and a drag on the full year 2015 performance * Source text for Eikon ID:nSNZ7PLnxW * ((For more news, please click here PEFO.SI )) ((Bengaluru Newsroom; +91 80 6749 1130))