Legumex Walker Announces Sale of Special Crops Division to The Scoular Company
CAD$174.6 Million Transaction Value to Legumex Walker
Legumex Walker to Wind Up Operations and Return Net Proceeds to Shareholders
WINNIPEG, Sept. 14, 2015 - Legumex Walker Inc. (TSX:LWP.TO) ("LWI" or the "Company") today announced that it has entered into a definitive agreement ("the Agreement") with The Scoular Company ("Scoular") pursuant to which Scoular has agreed to acquire substantially all of the assets of LWI's Special Crops Division for CAD$94 million plus the amount of net working capital at closing, on a cash free debt free basis, paid in cash. The sale represents a CAD$174.6 million transaction value for LWI, based on LWI's working capital as at June 30, 2015. The actual purchase price and transaction value are subject to working capital and other adjustments in accordance with the Agreement (all figures are in Canadian dollars).
- Published: 14 September 2015
- Written by Editor