Mhp Reg S Regulatory News (MHPC)

MHP announce final settlement of deal for Perutnina Ptuj (extended version)

Limassol, Cyprus/Ljubljana, Slovenia, 26 April 2019 - MHP SE (LSE: MHPC), a leading international agro-industrial group, has announced that it has reached a final settlement price of 22.34 EUR per share with SIJ to acquire Perutnina Ptuj, a leading poultry meat and a meat-processing company headquartered in Slovenia.

Total enterprise value of 100% Perutnina Ptuj evaluated at EUR 273 million, including Net Debt of EUR 34.5 million and normalized value of working capital.

The acquisition was completed in February 2019 subject to final purchase price defined based on audited financial statements of 2018. MHP has now completed this process and has today confirmed a 90.69% stake in Perutnina Ptuj with total amount paid in cash EUR 221 million. The rest of the stake can be potentially acquired through takeover bid, so that MHP will become 100% owner of PPJ later this year.

Perutnina Ptuj has production assets in four Balkan countries: Slovenia, Croatia, Serbia, Bosnia and Herzegovina; owns distribution companies in Austria, Macedonia and Romania and supply products to 15 countries in Europe.

During 2018, Perutnina Ptuj produced and sold about 90,300 tons poultry products in total, including 54,400 tons of poultry meat and around 36,000 poultry based sausages and value added products.

Perutnina Ptuj is a vertically integrated company across all states of chicken meat production - feed, hatching eggs production and hatching, breeding, slaughtering, sausages and FPP production.

Revenue generated in 2018 was EUR 271 million, normalized EBITDA EUR 30.4 million, EBITDA margin 11.2%.

ENDS

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