Australian dairy firm Noumi agrees to privatization deal with its largest shareholder to address $610m debt obligations due in 2027.
Noumi has agreed to a A$737m ($517.8m) takeover by Arrovest, its largest shareholder, to resolve looming debt obligations. The deal will take the company private, with minority shareholders receiving A$0.1234 per share in cash.
The offer represents a 12.2% premium over Noumi’s closing price of A$0.11 on 20 July and a 30% premium over its 30-day volume-weighted average of A$0.0949. Noumi’s equity is valued at A$34.2m under the agreement, which follows a year-long strategic review.
Noumi faces a A$610m mandatory cash redemption of debt securities due in May 2027. The company stated Arrovest’s proposal was the only viable solution identified during its review.