MG moves to squash sale speculation

MG hits back at sale speculation

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Murray Goulburn (MG) has moved to squash speculation the co-operative was likely to be sold.

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SALE SPECULATION

SALE SPECULATION

Milk processor Murray Goulburn (MG) has moved to squash speculation the co-operative was likely to be sold.

In a statement, MG confirmed it had recieved a number of confidential, non-binding indicative proposals.

“At this point it is too early to make any comment about valuation or implementation,” the statment said.

“MG notes there is no certainty that any transaction will eventuate.”

The statement said the proposals ranged from the sale of certain assets to “whole of company transactions.

“No offer has been received for the units in MG Unit Trust for $1.20 per unit, as speculated in the media,” the satement said.

MG, and its financial advisor Deutsche Bank AG are engaging with a number of parties to assess their proposals, including valuation.

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