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BRIEF-Bellamy's Australia announces binding agreement to further reset its supply contract with Fonterra Australia

Published 13/06/2017, 10:01 am
© Reuters.  BRIEF-Bellamy's Australia announces binding agreement to further reset its supply contract with Fonterra Australia
BAL
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June 13 (Reuters) - Bellamy's Australia Ltd BAL.AX -

* Announces a binding agreement to acquire Camperdown Powder Pty Ltd

* Total consideration of $28.5 million to acquire a 90% interest in a newly formed entity that will hold issued capital of camperdown

* Fully underwritten $60.4 million, 5 for 38 pro rata accelerated non-renounceable entitlement offer of new ordinary shares in bal

* Recent trading performance has been in line with expectations

* A revision in 2h17 reported ebit guidance from a profit of $9.0-13.0 million to a loss of $9.5-14.0 million

* Binding agreement to further reset its supply contract with fonterra australia pty ltd for a one-time consideration of $27.5 million

* 2H17 net sales are forecast to be above mid-point of guidance $105-120 million Source text for Eikon: ID:nASX66Y3Z4 Further company coverage: BAL.AX

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