Brief: Indofood Agri Resources Proposes Reorganisation Of Sugar Ops In Brazil

Indofood Agri Resources

01/10/2020 01:55

Oct 1 (Reuters) - Indofood Agri Resources Ltd  IFAR.SI :
    * PROPOSED REORGANISATION OF SUGAR OPERATIONS IN BRAZIL
    * JOINT VENTURES IN BRAZIL PROPOSED TO EFFECT REORGANISATION
AND
CONSOLIDATION OF THEIR SUGAR ASSETS & OPERATIONS IN BRAZIL
    * REORGANISATION TO BRING TOGETHER ASSETS INTO ONE LEGAL
STRUCTURE
    * JFLIM WILL BE MERGED WITH CMAA BY WAY OF A DISTRIBUTION IN
SPECIE OF JFLIM'S SHARES IN CMAA TO SHAREHOLDERS OF JFLIM
    * JF FAMILY ENTITY 2 AND RIO GRANDE WILL TRANSFER SUGARCANE
NEWCO
TO CMAA
    * CANÁPOLIS WILL BE MERGED WITH CMAA, INCLUDING ITS TWO
UNITS UCP
AND TERRA FORTE
    * CMAA TO ISSUE NEW SHARES TO JF FAMILY ENTITY 2 & RIO
GRANDE,
BASED ON INDEPENDENT VALUATION OF SUGARCANE NEWCO AT US$12.3
MILLION
    * CMAA TO ISSUE NEW SHARES TO INDOAGRI BRAZIL & JF FAMILY
ENTITY 3
BASED ON AN INDEPENDENT VALUATION OF ABOUT US$73.4 MILLION
    * CMAA WILL BE HELD BY JF FAMILY, INDOAGRI BRAZIL & RIO
GRANDE AS
TO 50.00%, 36.21% AND 13.79%, RESPECTIVELY

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