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Origin Enterprises (OGN)

Share Price:
 4.80
Change Today:
 0.00
Market Cap:
 602.79m

Origin Enterprises reaches deal with CMA to complete Bunn acquisition

10 Aug 17

LONDON (ShareCast) - (ShareCast News) - Agri-services group Origin Enterprises announced the completion of its acquisition of Bunn Fertiliser's fertiliser activities and assets on Thursday, having reached an agreement with the Competition and Markets Authority.
The AIM-traded firm initially announced the acquisition on 7 March, for cash consideration totalling 14.2m on completion, funded from existing bank facilities

However, the Competition and Markets Authority found the acquisition could reduce competition to supply fertilisers in the central and eastern regions of Scotland.

It told Origin that, unless it could address its concerns, the acquisition would face an "in-depth investigation".

On 28 July, Origin told markets that it had proposed "specific undertakings" to address the CMA's concerns, which the regulator had accepted "in principle.

"The Competition and Markets Authority has agreed to Origin holding the Bunn site at Montrose, Scotland separately, having agreed in principle to Origin ultimately divesting this site to obtain UK merger clearance," Origin's board said on Thursday.

The agreement with the CMA meant the sale had now completed.

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Market Data

Currency Euro
Price  4.80
Change Today  0.00
52 Week High  5.88
52 Week Low  4.74
Volume 12,537
Shares Issued 125.58m
Market Cap  602.79m

Dividends

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Ex-Div 28-Nov-19 28-Mar-19
Paid 13-Dec-19 12-Apr-19
Amount 18.17¢ 3.15¢