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Stock Market & Financial Investment News

News Breaks
May 29, 2014
14:18 EDTCAGConAgra, others complete formation of Ardent Mills JV
ConAgra disclosed in a filing that on May 29, ConAgra Foods and the other Owners completed the formation of the previously announced Ardent Mills joint venture. In connection with the closing of the Ardent Mills joint venture and the sale of three mills prior to the closing, ConAgra Foods received total cash consideration of approximately $570M which is subject to customary closing costs and working capital adjustments. ConAgra Foods also received a 44% interest in the Ardent Mills joint venture. As previously disclosed, ConAgra Foods plans to allocate the net cash proceeds primarily towards debt reduction. ConAgra Foods will comment on any other relevant financial details as part of the regularly scheduled fiscal fourth quarter earnings release, currently planned for June 26.
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