Switch of Kerry Co-op chair may inject new life into €700m deal
Frontrunner for the role has signalled he would heal rift with Kerry Group after negotiations collapsed in April
A €700 million deal between Kerry Group and its largest shareholder looks set to be revived as Kerry Co-op, the farmer-controlled investment company, prepares to elect a new chairman this week.
In April, negotiations over a joint venture deal for Kerry Group’s Irish dairy business collapsed after a major rift developed within the board of Kerry Co-op over the valuation of the deal and how it proposed to fund the transaction.
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