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PIONEER FOOD GROUP LIMITED - South African Competition Tribunal Hearing

Release Date: 21/02/2020 16:20
Code(s): PFG     PDF:  
 
Wrap Text
South African Competition Tribunal Hearing

PIONEER FOOD GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1996/017676/06)
Share code: PFG
ISIN: ZAE000118279
(“Pioneer Foods” or “the Company”)

PEPSICO, INC.
(Incorporated in the State of North Carolina,
United States)
NASDAQ Share code: PEP
(“PepsiCo”)

SIMBA PROPRIETARY LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1995/003667/07)
(“the Pepsi Offeror”)

SOUTH AFRICAN COMPETITION TRIBUNAL HEARING

Shareholders are referred to the combined circular to Pioneer Foods shareholders distributed
on 29 August 2019 (“Circular”). Capitalised terms used below and that are not otherwise
defined, bear the meanings ascribed to them in the Circular.

Shareholders are hereby advised that, save for the approval of the South African Competition
Tribunal, all approvals from the relevant Competition Authorities that are suspensory, have
been obtained.

Shareholders are further advised that the South African Competition Tribunal hearing will be
held on 5, 6 and 9 March 2020.

Shareholders will be advised of the outcome of the South African Competition Tribunal hearing
and will be provided with an update on finalisation and implementation of the Scheme following
the hearing.

Shareholders are reminded that the PepsiCo Offer remains subject to certain remaining
Conditions, the details of which are set out in the Circular.
Tygervalley

21 February 2020

Transaction advisor and Sponsor to Pioneer Foods   Financial advisors to PepsiCo and the Pepsi Offeror

PSG Capital                                        UBS Investment Bank

                                                   J.P. Morgan

                                                   Centerview Partners


Legal advisor to Pioneer Foods                     Legal advisor to PepsiCo and the Pepsi Offeror

Webber Wentzel                                     Bowman Gilfillan Inc.


Independent Expert to Pioneer Foods                Independent Reporting Accountant to Pioneer Foods

BDO Corporate Finance                              PricewaterhouseCoopers

Date: 21-02-2020 04:20:00
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