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Industrial Milk Company is in talks to acquire 15 ths ha agribusiness

Industrial Milk Company is in talks to acquire 15 ths ha agribusiness

27 September 2011

Industrial Milk Company (WSE: IMC PW, N/R) is negotiating the purchase of a 15 ths ha agribusiness, Interfax reported yesterday, citing Deputy General Director of Development Oleg Todchuk. According to him, as of July 1, 2011 the company had USD 17 mln on cash balance to finance acquisition. Todchuk said Industrial Milk could raise up to USD 50 mln via a loan or bond issue to finance expanding its land bank from 46 ths ha currently to 95 ths ha in 2012.

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