Brief: Oatly And Ya YA Foods Announce Long-Term Strategic Hybrid Manufacturing Partnership In North America

Oatly AB

03/01/2023 13:32

Jan 3 (Reuters) - Oatly Group AB  OTLY.O :
    * OATLY AND YA YA FOODS ANNOUNCE LONG-TERM STRATEGIC HYBRID
MANUFACTURING PARTNERSHIP IN NORTH AMERICA
    * OATLY GROUP - UNDER TERMS,CO WILL RECEIVE ABOUT $72
MILLION,PLUS
AN ADDITIONAL CREDIT AMOUNT TOWARDS FUTURE USE OF SHARED ASSETS
RELATED TO OGDEN FACILITY
    * OATLY GROUP AB - WILL ALSO RECEIVE AN ADDITIONAL CREDIT
TOWARDS
ONGOING CONSTRUCTION AT FORT WORTH LOCATION
    * OATLY GROUP - IN DEAL, YA YA FOODS WILL ACQUIRE MAJORITY
OF
ASSETS USED IN OPERATION & ASSUME PROPERTY LEASE AT CO'S
PRODUCTION FACILITY IN OGDEN
    * OATLY GROUP - AS PART OF DEAL, YA YA FOODS WILL ASSUME
RESPONSIBILITY FOR COMPLETION OF CONSTRUCTION OF PRODUCTION
FACILITY AND LEASE IN FORT WORTH
    * OATLY GROUP - EXPECTS THIS HYBRID PARTNERSHIP TO RESULT IN
FUTURE CAPITAL EXPENDITURES SAVINGS AND HAVE NET POSITIVE EFFECT
ON ITS CASH FLOW OUTLOOK

Source text for Eikon:  ID:nGNX4y7cT5 
Further company coverage:  OTLY.O 
 ((Reuters.Briefs@thomsonreuters.com;))