ARL - Astral Foods Limited - Disposal of interest in Bakery Business East
ARL
ARL
ARL - Astral Foods Limited - Disposal of interest in Bakery Business, East
Balt South Africa Partnership
ASTRAL FOODS LIMITED
"Astral Foods"
(Reg. No. 1978/003194/06)
(Incorporated in the Republic of South Africa)
Share Code: ARL
ISIN Code: ZAE000029757
DISPOSAL OF INTEREST IN BAKERY BUSINESS, EAST BALT SOUTH AFRICA PARTNERSHIP
Astral has successfully concluded the sale of its 50% interest in the bakery
business, East Balt South Africa, a bakery joint venture with East Balt of
Africa LLC, to Fedoha Proprietary Limited for an amount of R96 million. The
transaction takes effect on 30 May 2012.
The decision to dispose of the interest was made due to bakery activities
being non-core to the activities of Astral Foods. The net asset value of
Astral`s interest in East Balt South Africa was reported as R60 million in
the 31 March 2012 interim results.
East Balt South Africa operates two industrial bakeries in Gauteng and the
Western Cape, producing primarily hamburger buns sold to fast food outlets in
South Africa.
The transaction is below the JSE Listings Requirements transaction thresholds
and is for information purposes only.
Pretoria
31 May 2012
Sponsor
J.P. Morgan Equities Limited
Date: 31/05/2012 10:00:01 Produced by the JSE SENS Department.
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