Frutarom Industries Ltd. Acquires Cypriot Vantodio Holdings Limited
Frutarom Industries Ltd. ("Frutarom", the "Company") hereby announces that further to the immediate report filed on November 18, 2013, today it completed the acquisition of 75% of the share capital of the Cypriot Vantodio Holdings Limited company ("Vantodio"), holder of the Russian Protein Technologies Ingredients group ("PTI").
The acquisition was financed in full through short term bank financing with interest at Libor + 1.1%, granted to the Company today. The Company is acting to replace this financing with a long term loan. There have been no changes in the requirements regarding the Company's financial covenants.
For further information regarding the terms of the transaction, including Frutarom's option to purchase the remaining 25% of Vantodio shares, see the aforementioned immediate report.
This report includes forward-looking statements, as defined by the Israeli Securities Law - 1968. This forward-looking statement includes, inter alia, data, forecasts, goals, objectives, and/or other information relating to future events or circumstances which may or may not be realized and which are not solely in Frutarom's control.
These forward-looking statements are based on estimates determined by Frutarom's management which are determined, among others, by the information available to the management at the time of publication, including estimates relating to the activities of Frutarom, objectives, goals, strategies, events and future intentions.
By their nature, forward-looking statements involve risk and uncertainty and are not guarantees of future performance. The realization or lack thereof of forward-looking statements will be determined by risk factors that characterize Frutarom's activities, changes in the environment and external factors that exert influence upon the Frutarom Group (including PTI) and its activities.