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AVI-Mondelez takeover talks terminated
A potential takeover deal between food and beverage giant Mondelez International and AVI Ltd's snacks and biscuits business has fallen through.
©akulamatiau - 123RF
In November, South African food producer and fashion retailer AVI cautioned shareholders that it had progressed discussions with Mondelez International regarding the potential acquisition of AVI's Snackworks division, which includes prominent local brands such biscuit brand Bakers and chip brands Willards and Baker Street Snacks, which make Cheese Curls chips, Jumpin Jack flavoured popcorn and Tennis biscuits.
American multinational Mondelez owns brands including Oreo, Cadbury, Clorets, Tuc and Halls.
In a Sens announcement on Friday, AVI said, "[Shareholders] are advised that as negotiations with Mondelez International LLC have been terminated, caution is no longer required to be exercised by shareholders when dealing in AVI securities."
No reasons were supplied for the termination of the deal.
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