14th Aug 2018 07:00
Completion of Brazilian Acquisition
14 August 2018
Origin Enterprises plc, the Agri-Services Group, ('Origin' or 'the Group'), announces today that it has completed the acquisition of a 65 per cent controlling interest in the Brazilian based speciality nutrition and crop inputs business, Fortgreen Commercial Agricola Ltda. ('Fortgreen'), following the satisfaction of all conditions.
The separate transaction to acquire a 20 per cent shareholding in the Brazilian based agronomy services and crop input distribution business, Ferrari Zagatto E Cia. Ltda., ('Ferrari'), is expected to complete during the first half of the 2018/2019 financial year.
Fortgreen and Ferrari ('the Transactions') underline Origin's strategic priority to scale its technology and service portfolios in markets which provide tangible growth opportunities. The Transactions also provide the platform to address the Group's requirements for meaningful geographical diversification and seasonality balance.
Further details of the Transactions are set out in the RNS announcement dated 19 June 2018.
As previously indicated Origin will issue its Preliminary Results Announcement for the Year Ended 31 July 2018 on 26 September 2018.
ENDS
Enquiries:
Origin Enterprises plc | ||
Peter Dunne | ||
Group Finance Director | Tel: | +353 (0)1 563 4959 |
Andrew Mills | ||
Investor Relations Officer | Tel: | +353 (0)1 563 4900 |
Goodbody (ESM Adviser) | ||
Siobhan Wall | Tel: | +353 (0)1 641 6019 |
Davy (Nominated Adviser) | ||
Anthony Farrell | Tel: | +353 (0)1 614 9993 |
Numis Securities (Stockbroker) | ||
Stuart Skinner | Tel: | +44 (0)20 7260 1314 |
Powerscourt (Financial PR Adviser) | ||
Jack Hickey (Ireland) | Tel: | +353 (0)83 448 8339 |
Rob Greening (UK) / Jana Tsiligiannis (UK) | Tel: | +44 207 250 1446 |
About Origin Enterprises plc
Origin Enterprises plc is a focused Agri-Services group providing specialist On-Farm Agronomy Services, Digital Agricultural Services and the supply of crop technologies and inputs. The Group has leading market positions in Ireland, the United Kingdom, Belgium, Brazil, Poland, Romania and Ukraine. Origin is listed on the ESM and AIM markets of the Irish and London Stock Exchanges.
ESM ticker symbol: OIZ
AIM ticker symbol: OGN
Website: www.originenterprises.com
Related Shares:
Origin