Brief: Envictus International updates on disposal of EDL's dairy and juice manufacturing business

Envictus International Holdings

23/02/2016 09:15

Feb 23 (Reuters) - Envictus International Holdings Ltd  ETIK.SI : 
 * Non-binding heads of agreement for the proposed disposal of business of Envictus dairies nz limited  
 * Says unit entered into a non-binding heads of agreement with Energy Resources Development Investments Pte Limited 
 * Deal in relation to the proposed sale of EDL's dairy and juice manufacturing business 
 * Says consideration for the proposed disposal shall be NZD 20 million 
 * Chief executive officer of edl will be required to enter into a management contract with the purchaser for a 3-year term 
 * The proceeds from the proposed disposal will go towards the repayment of term loans and intercompany advances 
 * HOA shall be valid from the date of the HOA until the execution of the definitive agreements or 30 March 2016 
 
 * Source text for Eikon  ID:nSNZ8Mrl0f  
 
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