RBW
RBW
RBW - Rainbow Chicken Limited - Acquisition of poultry processing operation
RAINBOW CHICKEN LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1966/004972/06)
ISIN: ZAE000019063
Share Code: RBW
("Rainbow")
ACQUISITION OF POULTRY PROCESSING OPERATION
Rainbow is pleased to announce that it has concluded an agreement to acquire the
poultry processing operations of Bush Valley Chickens, located near Tzaneen in
Limpopo province, for a purchase consideration of R92.5 million ("the
transaction"). The facility currently processes approximately 150,000 chickens
per week and fits Rainbow`s strategic growth plan, although the short-term
impact on earnings is expected to be immaterial.
The transaction is subject to approval by the Competition Commission and the
fulfilment of certain suspensive conditions.
Durban
12 September 2011
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 12/09/2011 09:04:01 Produced by the JSE SENS Department.
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