Coffee compay Douwe Egberts to list in Amsterdam on July 9
Friday 01 June 2012
Coffee and tea company Douwe Egberts 1753 is to be listed on the Amsterdam stock exchange under the name DE Master Blenders on July 9, parent company Sara Lee said in a statement.
The share will also be available as an 'as-if-and-when issued' basis from June 12, which means investors can place orders which will be issued at the IPO. No information about the possible price has yet been published.
Shareholders in Sara Lee, which is hiving off its coffee and tea operations, will automatically be given a share and a special dividend, the company said
Sara Lee bought the Dutch coffee firm Douwe Egberts in 1984. DE itself was set up in 1753 in Joure, Friesland and briefly listed in Amsterdam in the 1980s.
Sara Lee said in January 2011 that it would separate into two public companies focusing on North American meats and international coffee and tea.
In December, Sara Lee reached a deal to take over the Netherlands' biggest coffee house chain CoffeeCompany which has a network of 60 cafes throughout the Netherlands. The FD says Rabobank values Sara Lee's tea and coffee arm at €4bn.