Printer Friendly

Labatt gives approval for U.S. dairy sell-off.

John Labatt Ltd. said it has approved the sale of its U.S. dairy business and discussions with respect to potential sale transactions are ongoing.

The company said the sale of certain of these assets in the near term will result in a significant loss, preliminary estimate of which is (C)$160 million.

The company also said its board has approved a Management Proxy Circular pertaining to the previously proposed spin-off of its Canadian dairy operations Ault Foods, Ltd.

The company said it expects that the circular will be mailed to common shareholders and holders of installment receipts seeking their approval at a special meeting scheduled for April 29.

The proposed spin-off will establish Ault Foods as a major new Canadian public dairy company with assets in excess of (C)$475 million.
COPYRIGHT 1993 Business Journals, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Modern Brewery Age
Date:Apr 5, 1993
Previous Article:Miller serves up first clear beer: new brew will be tested in three markets.
Next Article:Jones Brewing begins shipping Stoney's beer to South Korea.

Related Articles
Labatt cites success at annual meeting.
Canadian brewing companies face competitive pressures amidst falling trade barriers.
Labatt reduces size of board.
Labatt introduces popular-price beer in Canada.
Sunquest uses fax response to build sales.
Labatt says Onex bid undervalues co.
Wessanen sells Marigold and Crowley to National Dairy Holdings.
The Mexican brewer, Fomento Economico Mexicano SA. (Business Briefs).
Interbrew/Ambev deal faces challenges.
Lowenbrau will offer Octoberfest in 6-pack.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters