BRIEF-Kellogg Co to acquire Ritmo Investimentos for R$1.38 bln, or roughly US$429 mln

jueves 13 de octubre de 2016 06:42 GYT
 

Oct 13 (Reuters) - Kellogg Co :

* Kellogg Company enters into agreement to acquire Ritmo Investimentos, controlling shareholder of iconic Brazilian food company Parati

* Kellogg Co - purchase price is R$1.38 billion, or roughly US$429 million

* Kellogg Co - deal will be an all-cash transaction.

* Kellogg Co - Kellogg intends to reduce its expected share repurchases in 2016 to $450-550 million, versus previous guidance of $700-750 million.

* Kellogg Co - acquisition is expected to be accretive on both comparable and reported EPS in 2018 and thereafter

* Kellogg Co - in 2016 and 2017, deal is expected to be neutral to comparable-basis EPS

* Says Parati Group net sales are expected to be about R$600 million or about $190 million Source text for Eikon: Further company coverage: