Glanbia Co-op shareholders vote to take full ownership of Glanbia Ireland
80 percent voted in favour of the €307 million deal
Glanbia Co-op shareholders have voted to take full ownership of Glanbia Ireland.
Over 80 percent voted in favour of the €307 million deal to buy out Glanbia plc’s 40% share of Glanbia Ireland.
The move needed a 66%majority at the Special General Meeting held virtually yesterday.
It will also be subject to approval by Glanbia plc’s independent shareholders with an Extraordinary General Meeting due to happen early next year.
John Murphy, Chairman of Glanbia Co-op, said: “I’m delighted that shareholders have voted firmly in favour of this exciting development for our farmers. It is an historic milestone in the evolution of our Co-op, which has delivered for our farmer members for over a century. We firmly believe that 100% ownership of the world-class processing assets closest to our farmers’ interests is the right model for the future.”