Hain Celestial Shares Fall After Missed Credit Deadline Puts Sale at Risk
Photo: TokenPost
The Hain Celestial Group’s shares fell sharply Thursday after the company disclosed it missed a credit-amendment deadline tied to the planned sale of most of its international business to AURELIUS. The sale agreement allows AURELIUS-affiliated buyers to terminate if the credit condition is not met. Hain has not announced a termination, and discussions with AURELIUS and its lenders continue. The required amendment would have extended the credit agreement’s Dec. 22 maturity by at least nine months. Hain and its lenders did not complete it by the Oct. 12 deadline. The estimated gross sale price is $323.2 million.
Source: TokenPost
