ARYZTA AG announced it has successfully signed binding documentation concerning the disposal of its Brazil businesses to Grupo Bimbo SAB de CV. The transaction is expected to complete by the end of Q2 of ARYZTA’s financial year 2022, and is subject to closing conditions customary for this type of transaction, a press release states.
ARYZTA was advised on the Brazil transaction by Houlihan Lokey and Alantra, PinheiroNeto and KPMG.
ARYZTA also announced that it has entered into an underwritten agreement with three banks for a new EUR500m revolving credit facility. The facility which is expected to be utilized by early October 2021 is underwritten by Credit Suisse, Rabobank and UBS and will replace the current EUR800m revolving credit facility that matures in September 2022.