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Article: Savia Will Distribute Its Shares of Seminis; Fox Paine Will Invest US$222 Million to Acquire Shares in Seminis.
- Article from:
- PR Newswire
- Article date:
- December 14, 2002
CopyrightCOPYRIGHT 2002 PR Newswire Association LLC. 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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-- Transaction Valued In Excess of US$650 Million
MONTERREY, Mexico, and SAN FRANCISCO, Dec. 13 /PRNewswire-FirstCall/ -- Savia, S.A. de C.V. (BMV: SAVIA; NYSE: VAI) today announced that it has signed a letter of intent with Fox Paine & Company, LLC, a San Francisco-based private equity firm, under which Fox Paine, and certain Savia related parties will acquire all of the outstanding shares of Seminis, Inc. , the world's largest developer, producer and marketer of fruit and vegetable seeds. The proposed transaction has a total enterprise value in excess of US$650 million.
As part of the transaction Savia will exchange its Seminis Class C preferred ...