RE: Temporary supension8 Oct 2015 16:43
Found this from earlier this year, but it doesn't add up financially to make it a reverse t/o - too small based on BMK current mkt cap: Must be missing something.....
(SeeNews) - Jan 7, 2015 - Dutch financial services provider Rabobank and UK'sA Royal Bank of Scotland Group plc (LON:RBS) are expected to launch the sale of Belgian feed producers INVE Aquaculture and Nutriad during the first half of this year, Mergermarket reported citing industry and banking sources.
The two sister companies once operated under the umbrella of INVE Holding, which was taken over by Rabobank and RBS last year as part of a debt-for-equity swap. Following the EUR-47-million (USD 56m) deal, the banks transformed INVE and Nutriad into separate legal entities to expediteA their divestment, Mergermarket said.
Since Rabobank and RBS were reluctant to take control, they are looking to quickly exitA INVE and Nutriad, three sources told Mergermarket. Nevertheless, the banks have proved good custodians: under their ownership, the two Belgian companies have experienced a revival and will be attractive assets to acquire, one industry sourceA noted. INVE and Nutriad have combined EBITDA of around EUR 30 million.
INVE specialises in food ingredients and supplements for fish farms, while Nutriad deals mostly in livestock and poultry feed. Their anticipated sale has sparked the interest of trade buyers and financial investors. A person close to the vendor camp told Mergermarket that the Belgian enterprises should draw the attention of industry players and private equity groups alike, adding that the companies are aabsolutely strategic assets.a
The sources listed several industry representatives that would be expected to make a move. Among them is US agribusiness conglomerate Cargill Inc, which would benefit from the targets' know-how. INVE and Nutriad are also likely to attract the attention of Dutch sector players Nutreco NV and ORFFA, Mergermarket was told.
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