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I would rather rely on an official RNS, which I am sure will come.
ALLIANCE NEWS DETAIL C&C GROUP FINALISES TAKEOVER OF CONVIVIALITY BUSINESSES [ 04 Apr 2018 15:25 ] LONDON (Alliance News) - Irish drinks firm C&C Group PLC said Wednesday it has completed the purchase of Matthew Clark (Holdings) Ltd and Bibendum PLB (Topco) Ltd from Conviviality PLC. Earlier Wednesday, alcohol distributor Conviviality confirmed it was in talks with C&C the sale of its Matthew Clark Bibendum unit. The acquisition was conditional on the appointment of administrators to Conviviality, C&C will pay a nominal sum and will provide sufficient funds to support the on-going working capital and other cash requirements of the businesses. In addition, Budweiser beer maker AB InBev NV will provide additional financial support to the transaction. C&C's investment will be funded from existing facilities. C&C shares were up 12% on Wednesday afternoon at EUR2.87 each, while Conviviality's are suspended. By George Collard; georgecollard@alliancenews.com Copyright 2018 Alliance News Limited. All Rights Reserved. C&C Group Finalises Takeover Of Conviviality Businesses - Alliance News space PRICES Indices International Markets Stocks search Portfolio AlertNEWS AND EVENTS Market new
They get the goodwill on CVR balance sheet - customers of M C & Bibendium - for SFA. It is not fair - but it has happened.
C&C this is written up and its a fact we have been stitched up big time, I read with amazement at this paragrapgh. If the deal goes ahead,matthew clark and Bibendum will have 102 million available in working capital facilities provided by its """current lender group""",which will be repayable in instalments over the nxt 12 months, C&C said in a statement today....so after they steal the company they get the 102mn loan,, that's just not right is it and the fca are going to let this happen,vultures they be, C&C also see thru its actions they have support of stake holders and suppliers also it aim to enhance the cider brands they own and to reach untapped markets via cvrs customers(robbing bast),also c&c state that they see significant revenue oppurtunities and other business benefits....damn strange they want to help after we bust there way of getting rid of shareholders no doubt,total rip off this,and bugger all we can do is there????
completes purchase of matthew clark bibendum
Demark,i read the rns,my understanding is that the deal is on ,IF cvr is put into adminstration,does'th this mean it will be bad for us share holders?
Yeah your right ......ir4850 something stinks here...im 1000% that c&c bid was already ongoing due diligence,somebody was doing due diligence and found these errors.they could have kept quiet found a way round it.hmmmm then boom we are bust something stinks.nobodys intrested its as if everybody accepts its over and fk it hey good lord its bad.....what can be done sod all.i still dont understand how they can sell cheapliy and us as shareholders get no say.as we bought into the ipo to get them to market big scam in making...aims done for me i keeping boohoo no more corrupt companiez ever again....all we can hope for is the BOARD ARE TRYING TO GET US A LIL BIT BACK ASWELL I GUES 50P A SHARE BUT SOME 10000 and higher buyers were paying 300+pence.ouch sad sad.in end cvr will be forgotten mathew clark will be a gold mine for somebody these chinese are buying too much worldwide at least trump said enoughs enough even tho markets crashed as some say a buying oppurtunity....ahwell shafted but i was not forced into buying but i was hoping the fca would give me hope of no tainted markets....
Taken the huge hits without so much as a whimper from them? Shocking and unbelievable that they are not making noises.
I reckon PwC are pushing this so they look good got the debts paid off shareholders shafted pwc looked upon as good guys again....I JUST HOPE THE BOARD AS EVERY STAKEHOLDERS INTRESTS HERE NOT JUST THERES....GRRRRRR.
each time i read a new piece of press release ,each time i'm more convinced that this all was preconcuted to buy cvr on the cheap,solid revenue base ,wasnt a rwally large cash call ,compared to many others ,quite sure /positive that existing share holders would have bought in too...all seems very suspicious and irregular....DYOR
Shareholders should sue Conviviality management if the Chinese private equity or C&C Group buys Matthew Clark or Bibendum for less than �200m and �40m, respectively. http://www.cityam.com/283322/magners-cider-owner-cc-group-confirms-bid-buy-conviviality
Ledsparky..............It really is a sad state of affairs! I think the real hard pill to swallow is the 1pm RNS the day after the crash that pretty much affirming to the market that it was only an adjusted EBITDA for the current year at approximately 20% below market expectations! 7am the next day they were suspended! Very poor and really warrants a criminal investigation for fraud!
thanks fsj The proposed acquisition is conditional upon, amongst other things, the appointment of administrators to Conviviality Brands Limited (the seller), which is expected to occur later today. A further announcement will be made later this morning.
Anyone else get paid a divi recently just out of curiosity ? (Shouldn't have happened and is illegal)
they stitched us up....
and Bibendum - So CVR is being hacked to pieces within the industry.......... http://www.lse.co.uk/share-regulatory-news.asp?shareprice=CCR&ArticleCode=gq6wj0rs&ArticleHeadline=Acquisition You would have though CVR would have released an RNS this morning on this, expect one coming in sometime today?
We get whats left over mate not much.they no cvr are screwed now.i believe its 250 mn debt, they should say well heres 150mn take it.and theres 184 mn shares.prior to this collapse it wzs av £3 a share and about 600mn value for cvr for arguements sake.to get debts paid off and a possible £1 a shre we need 430 mn bid wont happen.so 50p a share and say 200mn debts stuff the debters they got to take a hair cut .thats 290mn bid maybe...but in reality the BoD will try with advisers to pay debts to save therd careers.then they will move onto another job.or carry on running cvr under another name.up till this crap it was 1.6bn a yr revs 50mn .run the right way it could raise to 2bn a yr with 100mn profits.....................all this legal talk it wont happen lads.its like who going to do it people always want people to do things for free.be honest legal action is dead in water unless somebody starts ball rolling then others will join in.sadly bottom line is if this BoD cannot salvage us even 50p a share then we lost our money.i believe once they enter admin they will not need shareholder vote.so admins coming undervalue bids will be accepted bod get well paid jobs we get sod all bar a middle finger. Bastu ds.
what does this mean for Pi? if a purchase is made for CVR?
Not sure its a good fit but beggars can't be choosers....
Perhaps they are paying direct pro tem. Perhaps we PIs are a bit in the dark - aren't we always? Sue?- water will have passed so far up / down river that poor PIs will still be poor PIs. Sue all the regulatory bodies? Come on - get real hasiba
If you're going down this channel you need to set up an action group pronto, make sure you've got some people who know what they're talking about on the committee also
Thanks Slean. Have any other holders contacted these guys or any other dispute lawyers? It would be sensible to launch a class action against the company in order to add more weight to the complaint