Masterfoods Holding acquires BNP Paribas' controlling stake in Royal Canin

09/07/01
Masterfoods Holding ("Masterfoods"), a fully owned French subsidiary of Mars, Incorporated ("Mars"), announces that it has entered into an agreement with Paribas Affaires Industrielles ("PAI") for the staged acquisition of BNP Paribas' 56.4% interest in Royal Canin at a cash price of Euro 145 per share, valuing 100% of Royal Canin at Euro 1,514 million (on a fully diluted basis). This price, which will also be offered to the minority shareholders, represents a 29% premium Based on arithmetic average, non-weighted by volume over the last month's average share price and a 20.3x 2000 EBITDA multiple.

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