Primark Will Become a Standalone Retail Company Following Its Separation from ABF in 2027 [Yahoo! Finance]
ASSOCIATED BRI/F UNSP/ADR (ASBFY)
NASDAQ:AMEX Investor Relations:
abf.co.uk/investorrelations
Company Research
Source: Yahoo! Finance
ABF announced last November it was contemplating splitting the two businesses, and said Tuesday the demerger was going ahead, with shareholders able to hold stakes in both publicly-listed entities. More from WWD EXCLUSIVE: Ami Paris to Open 18-month Pop-up as It Searches for New London Flagship California AG Accuses Amazon of Price Fixing With Levi's and Hanes Outdoor M&A Sees Heat in Sporting Goods Category Wittington Investments, which is owned by the Weston family and has majority ownership of ABF , said it was “supportive of the proposed demerger,” and remains committed to maintaining majority ownership of Primark and the separate food company, which for the moment is called FoodCo. The board said one-off separation and transaction costs are expected to be in the region of 75 million pounds, and the demerger will deliver a number of benefits to each business, making investing easier and more transparent for shareholders. The board also said it was confident in the l
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