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News Breaks | | | | January 29, 2013 | | 17:55 EDT |  | ALCO | Alico announces formation of special committee of board of directors
On January 28, Atlantic Blue Group, a holder of 50.6% of Alico's common stock, informed Alico of their intention, in light of recent changes in the tax code relating to the sale of certain assets by "subchapter S corporations" such as ABG, to explore the potential sale of substantially all of their assets during the 2013 calendar year and, in connection therewith, to actively pursue the sale of their entire equity position in Alico to a strategic or financial buyer. Accordingly, the board has formed a special committee comprised of its independent directors to explore working cooperatively with Atlanticblue, to investigate all transaction possibilities and to protect the interests of all shareholders. | |
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