CORRECTING and REPLACING Goldsmith Agio Helms Completes the Sale of Farmland National Beef.Business Editors CORRECTION...by Goldsmith Agio AGIO, aggio. This term is used to denote the difference of price between the value of bank notes and nominal money, and the coin of the country. Encyc. Helms MINNEAPOLIS--(BUSINESS WIRE)--Aug. 12, 2003 Please replace BW5727 issued Aug. 6, 2003, (MN-GOLDSMITH-AGIO-HELMS) completes the sale of Farmland National Beef with the following revised release. The corrected release reads: GOLDSMITH AGIO HELMS COMPLETES THE SALE OF FARMLAND NATIONAL BEEF Goldsmith Agio Helms announced today the completed sale of Farmland Industries, Inc.'s ("Farmland Industries") interest in Farmland National Beef Packing Company, L.P. ("National Beef") to a group of investors led by U.S. Premium Beef Ltd ("USPB USPB United States Potato Board "). Goldsmith Agio Helms was retained by Farmland Industries to represent it in the sale of both National Beef and Farmland Foods, Inc. Farmland Industries previously held a 71 percent stake in National Beef while USPB held the remaining 29 percent. USPB paid $232 million for Farmland Industries' interest. In addition, U.S. District Court Judge Jerry Venters of the U.S. Bankruptcy Court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. for the Western District of Missouri in Kansas City has approved the bid and auction procedures for the sale of Farmland Foods, Inc. The "stalking horse Stalking horse In bankruptcy proceedings, this refers to the company that first bids for the companies assets. " is Smithfield Foods, Inc. with a bid of $363.5 million. The auction and sale are expected to be completed later this fall. Kevin G. Jach, managing director and partner of Goldsmith Agio Helms, commented, "National Beef is a well-run, growing beef packer with continued opportunity ahead of it. Its existing relationship with USPB should help the transition of ownership from Farmland Industries to USPB go smoothly." David G. Iverson, vice president of Goldsmith Agio Helms, added "With the completion of this sale, National Beef will continue its tradition of producer ownership and further its commitment to vertically integrating the beef packing industry to the benefit of all constituents." Farmland Industries, Inc., headquartered in Kansas City, Missouri Kansas City is the largest city in the state of Missouri. It encompasses parts of Jackson, Clay, Cass, and Platte counties and is the anchor city of the Kansas City Metropolitan Area, the second largest in Missouri, which includes counties in both Missouri and Kansas. , is a diversified agricultural cooperative with interests in food, fertilizer, petroleum, grain, and animal feed businesses. Farmland National Beef Packing Company, L.P., headquartered in Kansas City, Missouri, processes and markets fresh beef, boxed beef boxed beef the alternative to carcass meat. Major cuts, often deboned, are packed in sealed plastic bags and packed in strong cardboard boxes. and beef byproducts for domestic and international markets. It holds a 10 percent market share in the United States. U.S. Premium Beef Ltd, headquartered in Kansas City, Missouri, is a producer-owned, beef marketing company with more than 1,850 producer members in 37 states representing all segments of the U.S. beef industry. Farmland Foods, Inc., headquartered in Kansas City, Missouri, is one of the largest producers and marketers of pork products in the U.S. Smithfield Foods, Inc (NYSE NYSE See: New York Stock Exchange :SFD SFD Single Family Dwelling SFD Sacramento Fire Department (California, USA) SFD Start of Frame Delimiter (networking) SFD Saudi Fund for Development SFD Seattle Fire Department ), headquartered in Smithfield, Virginia, is a leading processor and marketer of fresh pork and processed meats in the U.S., as well as the largest producer of hogs. Goldsmith Agio Helms (www.agio.com) is one of the nation's leading private investment banking firms providing expert financial advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal to middle-market businesses. Goldsmith Agio Helms provides a full array of services, including mergers and acquisitions advisory, distressed advisory and restructurings, valuations and fairness opinions, and private placements of debt and equity. The firm's 55 professionals advise public and private businesses engaged in a wide variety of industries through its offices in Minneapolis, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Chicago, Los Angeles, and Naples, Florida. |
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