(Finance) – Newlat Foodan Italian multi-brand group in the agri-food sector and listed on Euronext STAR Milan, has interrupted negotiations for the acquisition of 100% of the capital of Princes“also in consideration of the difficult market context in the United Kingdom, characterized by a reduction in demand and a sharp decline in inflation, which is expected to lead to pressure both on sales volumes and on requests for price reductions by retailers” .
The company led by Angelo Mastrolia has therefore deemed appropriate to review the values initially proposed in the offer. This latest offer was not accepted by the seller, Mitsubishi Corporation.
Newlat Food remains available to re-evaluate the target if the seller is willing to consider the sale again based on the latest offer presented, we read in a note. The society he confirmsin any case, the own acquisition profile and the continuous search for opportunities of growth through external lines, supported by a growing availability of own resources and by the presence of important financial partners who were ready to give their full support to the group in the face of this great opportunity and who we are certain will not fail to support us in the future.
(Photo: Newlat)