Del Monte Pacific Completes Disposal of Remaining Stake in Sundrop Brands for $14.1 Million

MT Newswires06-05

Del Monte Pacific (SGX:D03) completed the disposal of its remaining stake in Sundrop Brands to CAG-Tech (Mauritius), via a put option exercise for $14.1 million, according to a Friday filing with the Singapore Exchange.

The disposal was carried out through the food and beverage company's subsidiary, DMPL India (Mauritius).

Net proceeds from the disposal of the 4.99% interest will be allocated for working capital needs and debt obligations of main operating subsidiary, Del Monte Philippines.

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