date:Aug 24, 2012
Premier announced today (August 23) that it will receive 170M in cash and 30M in Hain Celestial shares, with the cash being used to repay itsdebt of 1.27bn.
Panmure analyst Damian McNeela said the sale price was ahead of Panmure's expectation of 180M.To date the company has raised proceeds of 275M and is undoubtedly making good progress towards its disposal proceeds target of 330M by June 2014,he said in a note.
Cost savings are ahead of plan and should help to ease the profit dilution impac