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Article: Del Monte Foods Company Completes Sale of Seafood Business, Including StarKist, to Dongwon.

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Food Weekly News
Article date:
October 23, 2008
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Del Monte Foods Company (NYSE:DLM) ("Del Monte") announced that Del Monte Corporation, its wholly-owned subsidiary, has completed the sale of its seafood business, including StarKist, to Dongwon Industries Co., Ltd. ("Dongwon Industries") and its subsidiaries (collectively, "Dongwon") for approximately $359 million, including an adjustment for the preliminary estimate of working capital which will be updated once the final working capital is determined. The sale was completed pursuant to the previously announced Purchase Agreement among Del Monte Corporation, Dongwon Enterprise Co., Ltd., Dongwon Industries, Dongwon F&B Co., Ltd., and certain direct and indirect ...

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