AGTI acquired the business from Poortmans' managing director Andrew Jacobs and US packaged foods firm Trinidad Benham Corp.
Poortman, which has operations in the UK, Netherlands and China, would extend AGTIa[euro](tm)s presence on the global edible beans market and provide the buyer with a bean processing factory in China, which is one of the main dry-beans exporting regions, AGTI CEO Murad Al-Katib said.
In order to create additional value for our stockholders, the independent and disinterested members of the ARIAD Board undertook, with the assistance of an investment banking firm, an extensive evaluation of strategic alternatives with respect to acquiring the 20 percent minority interest of AGTI that ARIAD did not own," stated Sandford D.
Upon the consummation of this merger, ARIAD is poised to realize all of the potential future economic benefit from deforolimus and other assets previously owned by AGTI," stated Dr.
ARIAD will distribute by September 22, 2008 a detailed information statement to the holders of record of AGTI shares regarding the merger and specific actions they will need to take to exchange their AGTI shares for ARIAD common stock.
CGI signs letter of intent to acquire Montreal-based CDL - Company finalizes agreement to take 49% equity interest in AGTI
AGTI generates 40% of its revenues in the telecommunications sector; 25% in the financial services industry; 20% in governmental organizations; and 15% in manufacturing, transport, distribution and energy.
Similarly, we have signed two letters of intent, one to take an equity investment in AGTI, and a second to increase our equity interest in CIA, a Quebec-based IT services firm, from 35% to 49%.
On September 20, CGI signed a letter of intent to acquire a 49% interest in Montreal-based AGTI, a high-level IT services firm with 225 employees.
We are pleased to have concluded this alliance with such a high-calibre company as AGTI," stated Serge Godin, CGI's chairman and CEO.
Jacques Martineau, president of AGTI, added, "We are proud to be associated with a highly reputable company like CGI, which has a client base comprised of some of the largest North American and international companies.
Its stock trades under the symbol AGTI
on the NASD electronic bulletin board.