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Article: TLC Beatrice International Sells Spanish Ice Cream Operations to Spanish Beverage Group; TLC Board Approves Plan of Liquidation; Irish Snack Food Business Also Up for Sale.
- Article from:
- Business Wire
- Article date:
- May 27, 1999
CopyrightCOPYRIGHT 1999 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK--(BUSINESS WIRE)--May 27, 1999--
TLC Beatrice International Holdings, Inc. and Iberian Beverages Group (IBG), the parent company of La Casera S.A. (La Casera), a large Spanish soft drink company, today announced a definitive agreement for the sale of TLC Beatrice's ice cream operations in mainland Spain and the Canary Islands. The buyer is La Industrial Carbonica, S.A. (LICSA), a wholly-owned subsidiary of IBG. The sale is for 29.6 billion pesetas or approximately $191 million which includes cash and a $120 million promissory note.
TLC Beatrice also announced today that its Board of Directors has approved a plan of liquidation and the sale of ...