Barry Callebaut plans $950m M&A refi
Swiss chocolate products firm Barry Callebaut said that it will raise equity in the next 12 months to support a $950m acquisition of the cocoa ingredients division of Petra Foods.
The firm, advised by Credit Suisse, is financing the deal with a bridge loan that it will take out with a combination of equity and debt. Analysts at Deutsche Bank said they expect an equity raise of around $300m.
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