Germany's Baywa has completed the sale of its subsidiary Cefetra. This was reported by both Baywa and Cefetra CEO Daan Vriens. The buyer(s) were not named, but reliable sources report that they are Dutch investors.
The parties involved will register with the Rotterdam Chamber of Commerce. Registration is mandatory, but the parties insisted during the sale that they not be named. According to the information, there are eight parties/entities involved, all of whom are from the Netherlands.
Cefetra is a major player, particularly in the grain trade, but has also been active in the dairy trade for several years. The transaction is a relief for Baywa. €125 million will be paid for Cefetra, while a debt burden of approximately €600 million will also be lifted from Baywa's shoulders.
As far as is known, Cefetra's management will remain in place.