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4 months ago
BRIEF-Taste sees sale of the luxury goods division during this year
April 4, 2017 / 3:00 PM / 4 months ago

BRIEF-Taste sees sale of the luxury goods division during this year

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April 4 (Reuters) - Taste Holdings Ltd

* Concluded that food and luxury businesses will best be served by having separate investors, management teams

* Strategic restructure will most likely result in sale of luxury goods division during this year

* Post strategic restructure, Taste will be a focused food business, both owning and licensing leading global brands

* Therefore envisaged that post this strategic restructure, taste will be a focused food business, both owning and licensing leading global brands

* Total of 80 million Taste shares will be offered in claw-back offer at a claw-back offer price of R1.50 per share

* Intends to raise equity along with proceeds from sale of luxury goods division, used to reduce debt, build new starbucks, Domino's outlets

* Proposed claw-back offer may result in entities under common control, acquiring more than 35% of voting rights of Taste Source text for Eikon: Further company coverage:

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