Glanbia could gain €343m in buy-out of dairy business

GLANBIA Plc could be paid up to €343m for its Irish dairy and agri-businesses by Glanbia Co-Op in a proposed buy-out.

The co-op currently owns 54.6% of the plc but that will fall to 10% if the deal goes ahead.

It is intended that farmers individually will hold about 25% of the total equity in the group following the sale, giving the co-op and its members a 35% stake in Glanbia Plc.