Cocoa Supplier Fights Chocolatier Over $100M Sale Price Cut

Law360, New York (October 22, 2013, 1:43 PM EDT) -- Singapore’s Petra Foods Ltd. is locked in a dispute with Barry Callebaut after the Swiss chocolatier asked to lop nearly $100 million off the $860 million price tag it previously placed on Petra’s cocoa business, the seller said late on Monday.

In a securities filing, Petra said Barry Callebaut last month asked it to hack $98.3 million from the purchase price in the deal, which closed in July. Under a provision in the share purchase agreement, the Swiss company had leeway to justify a closing price...
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