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Buoyant outlook
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Octavia
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29-Oct-2013 09:33
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The Business Times picks up from Petra's announcement last week. Petra?s deal to sell its cocoa ingredients business to Barry Callebaut for US$950m (subject to adjustments at completion) may have hit a sour note as the buyer is now asking for a closing price reduction of US$98.3m. This comes after the estimated sale proceeds was already cut to US$860m bcs working capital delivered at completion was lower by ~US$74m. Should Petra be compelled to accept the closing px reduction, it would mean a chunky 20% slice off the original px when the deal was struck in Dec last yr. This could mean a potential estimated net loss per share of US 6¢ from the sale transaction, instead of the net gain per share of US 10¢. This estimated shortfall of 20¢ could prompt analysts to further knock down their avg TP of $4.20. | ||
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Octavia
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22-Oct-2013 10:11
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Singapore's Petra Foods Ltd is in dispute with Barry Callebaut after the latter sought a discount in the final pricing for buying Petra's cocoa business, Petra Food said in a statement late Monday. Swiss-based Barry Callebaut, the world's biggest maker of finished chocolate products for companies such as Nestle SA and Hershey Co, sought a reduction of US$98.3 million in the closing price last month, which Petra Foods considered unjustified. In July, Petra Foods said it expected to receive US$860 million from the deal, after it first announced selling its cocoa ingredients business to Barry Callebaut for US$950 million last December. Petra Foods said that Barry Callebaut's proposal to reduce the closing price is not compliant with the sale and purchase agreement and the law and does not have a proper or valid basis. - Reuters | ||
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guoyanyunyan
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02-Jul-2013 09:21
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...Married Deal: Vol: 1,215 Value: $4,483,350 ie $3.690/share Last: $3.910...Recent low: $3.450... | ||
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guoyanyunyan
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05-Mar-2013 08:53
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... Married Deal: Vol: 1,200 Value: $4,800,000 ie $4.00 / share ... recent high $4.10 ... |
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gregorsamsa
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07-Jan-2013 23:03
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+12 cents today. stock very fierce. I think information is priced in though. | ||
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gregorsamsa
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03-Jan-2013 20:58
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Petra has gained so much. Special dividend priced in | ||
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Octavia
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16-Dec-2012 16:43
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CIMB added " Although cocoa ingredients account for 35 percent of Petra Food's 2011 profits, the significance of the business is declining as grinding margins fall, CIMB said. Shareholders can look forward to a special dividend of up to S$0.60." Has the current price factor into this yet?Any advise pls? http://sg.finance.yahoo.com/news/stocks-news-singapore-brokers-upgrade-025401415.html
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gregorsamsa
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12-Dec-2012 16:20
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CIMB suddenly looks very wrong. Petra should be announcing a special dividend in the end of its financial year 2012 given the sale of its cocao ingredients business | ||
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