Swiss Chocolatier Inks $950M Asian Cocoa Supplier Buy

Law360, New York (December 12, 2012, 12:08 PM EST) -- Swiss chocolate company Barry Callebaut AG will swallow up the cocoa unit of Petra Foods Ltd., Asia’s largest cocoa products supplier, in a $950 million deal to fuel its expansion in emerging markets, the buyer said Wednesday.

Barry Callebaut will back the all-cash deal, its biggest ever, with a bridge loan from unnamed banks. It said it planned to replace the loan within a year by issuing a combination of equity and debt. Subject to approvals by Petra shareholders and competition regulators, the deal is expected...
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