date:Aug 30, 2012
Under the proposed transaction, Glanbia Ingredients Ireland (GII) as DII will be known - will be 40% owned by Glanbia and 60% owned by Glanbia Co-operative Society - Glanbias largest shareholder
Subject to the necessary approvals and the completion of legal contracts, the transaction is expected to be completed before the end of 2012.
Glanbia intends to use proceeds from the proposed 60% share sale to repay existing debts.
The existing DII business, which generated revenue of 738m in 2011,