IN BRIEF: Kerry completes phase one of Kerry Dairy Ireland disposal

Kerry Group PLC - Tralee, County Kerry-based provider of nutrition products - Completes phase one of sale of Kerry Dairy Ireland to Kerry Co-Operative Creameries Ltd for enterprise value of EUR500 milion. The company says it redeemed and cancelled the Co-Op's entire shareholding and reduced the company's issued share capital by around 2.9 million shares.

Chief Executive Officer Edmond Scanlon said: "Today marks a significant step in Kerry's history, becoming a pure play global business to business taste and nutrition company, with sustainable nutrition at its core, while also supporting our financial objectives of continued market outperformance, strong margin progression, and delivering greater returns for our shareholders."

Current stock price: EUR92.74

12-month change: up 20%

By Michael Hennessey, Alliance News reporter

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