Brief: Bel Group, Lactalis In Exclusive Talks Regarding Assets Purchase, Unibail Plans A Planned Public Share Squeeze-Out Tender Offer On Co's Shares

Unibel SA

19/03/2021 08:44

March 19 (Reuters) - Bel Sa  FROB.PA :
    * FY EARNINGS PER SHARE 21.18 EUR VERSUS 17.88 EUR YEAR AGO
    * FY NET PROFIT ROSE 18.4 PERCENT TO 143.8 MILLION EUR
    * END-2020 OPERATING CASH FLOW STANDS AT EUR 386 MILLION, UP EUR 76 MILLION
    * BOARD OF DIRECTORS DECIDED NOT TO PROPOSE DISTRIBUTION AND PAYMENT OF A
DIVIDEND
FOR 2020
    * BEL GROUP REAFFIRMS ITS COMMITMENT TO MAINTAIN A HEALTHY AND SOLID BALANCE
SHEET
    * BEL GROUP AND LACTALIS GROUP ANNOUNCE THEY HAVE ENTERED INTO EXCLUSIVE
NEGOTIATION 
    * THAT FOLLOWS SIGNING OF A UNILATERAL PROMISE TO PURCHASE ASSETS COMPRISING
ROYAL
BEL LEERDAMMER NL, BEL ITALIA, BEL DEUTSCHLAND, LEERDAMMER BRAND AND ALL ITS
RELATED RIGHTS, AS WELL AS BEL SHOSTKA UKRAINE
    * THESE ASSETS WOULD BE TRANSFERRED TO LACTALIS BY SICOPA, A WHOLLY OWNED
BEL
SUBSIDIARY, IN EXCHANGE FOR 1,591,472 BEL SHARES (REPRESENTING 23.16% OF
CAPITAL) HELD BY LACTALIS
    * FOLLOWING TRANSACTION, LACTALIS WOULD HOLD 0.90% OF CAPITAL OF BEL
    * SUBJECT TO AND FOLLOWING COMPLETION OF THIS TRANSACTION, BEL INTENDS TO
LAUNCH
OF A SHARE BUYBACK OFFER ON OPEN MARKET AT A PRICE OF EUR 440 PER SHARE
(DIVIDEND ATTACHED)
    * AT DECEMBER 31, 2020, EQUITY TOTALED EUR 1,859 MILLION, COMPARED WITH EUR
1,810
MILLION AT DECEMBER 31, 2019
    * COMPLETION OF ABOVE ASSET SALE IS PLANNED TO OCCUR BEFORE END OF SUMMER OF
2021
    * SETTLEMENT AND DELIVERY OF PUBLIC TENDER OFFER IS EXPECTED TO TAKE PLACE
IN Q3
OF 2021
    * BEL HAS ALSO BEEN INFORMED OF UNIBEL’S  CBQP.PA  INTENTION TO LAUNCH A
PUBLIC
TENDER OFFER FOLLOWED BY A SQUEEZE-OUT PROCEDURE  urn:newsml:reuters.com:*:nL8N2LH1YH
    * THE CASH COMPENSATION PAID FOR THE SQUEEZE-OUT WOULD BE THE SAME AS
THE PER-SHARE PRICE PROPOSED IN THE SHARE BUYBACK OFFER
    * UPON COMPLETION OF PUBLIC OFFERS, BEL'S SHARES WOULD BE DELISTED
    * AT DECEMBER 31, 2020, NET FINANCIAL DEBT, INCLUDING RIGHT-OF-USE LEASE
LIABILITIES RELATED TO ADOPTION OF IFRS 16, CAME TO EUR 584 MILLION, DOWN FROM
EUR 684 MILLION IN PRIOR YEAR
    * GROUP REAFFIRMS ITS COMMITMENT TO MAINTAIN A HEALTHY AND SOLID BALANCE
SHEET.
    * AT ITS MEETING ON MARCH 18, 2021, BOARD OF DIRECTORS DECIDED NOT TO
PROPOSE
DISTRIBUTION AND PAYMENT OF A DIVIDEND FOR 2020 AT ITS ANNUAL GENERAL MEETING
SCHEDULED FOR MAY 11, 2021

Source text for Eikon:  ID:nGNESFJb6 
Further company coverage:  FROB.PA 

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