CELAYA, Mexico--(BUSINESS WIRE)--Industrias Bachoco S.A.B. de C.V. ("Bachoco") (BMV: BACHOCO). A national leader in the production and marketing of poultry products and other food products, informs that its Board of Directors, with the abstention from the deliberation and voting and without the presence of directors from the Robinson Bours Family, approved to call in the course of time for an Extraordinary Shareholders' Meeting to, among other matters, discuss and, if applicable, approve the cancellation of the registration of the shares representing its capital stock in the National Securities Registry maintained by the Mexican National Banking and Securities Commission and the consequent termination of the listing of such shares on the Mexican Stock Exchange, S.A.B. de C.V.
In addition, with respect to the intention previously announced by Bachoco to initiate a public tender offer for the shares owned by the market, in terms of Article 108 of the Securities Market Law (such process can be consulted at www.bmv.com.mx and https://www.gob. mx/cnbv), determined that the offer would be made at the price resulting from the higher of the quotation value (volume-weighted average price of the transactions carried out during the last 30 trading days of the shares, prior to the beginning of the offer) and the book value of the shares representing the capital stock of Bachoco, according to the last quarterly report, prior to the beginning of the offer, filed on the Mexican National Banking and Securities Commission and the Bolsa Mexicana de Valores, S.A.B. de C.V.
COMPANY DESCRIPTION.
Industrias Bachoco is a leader in the poultry industry in Mexico and one of the largest poultry companies in the world. The Company was founded in 1952, and began trading on the Mexican Stock Exchange and the New York Exchange in 1997. Corporate offices are located in Celaya, Mexico. Bachoco is vertically integrated; its main business lines are: chicken, eggs, balanced feed, pork, among other products. It has more than 1,000 facilities organized into 9 production complexes and more than 100 distribution centers in Mexico and a production complex in the United States. It currently generates more than 34,000 direct jobs. Bachoco has the following ratings: "AAA (MEX)", the highest rating assigned by Fitch México, S.A. de C.V.; and "HR AAA", which means that the Issuer or the Issue is of the highest credit quality and was granted by HR Ratings de México, S.A. de C.V.
DISCLAIMER
The document contains information that could be deemed forward-looking statements regarding expected future events and results of the Company. The statements reflect management's current beliefs based on currently available information and are not guarantees of future performance and are based on our estimates and assumptions that are subject to risks and uncertainties, including those described in the Annual Information form, which could cause actual results to differ materially from the forward-looking statements contained herein. These risks and uncertainties include risks associated with ownership in the poultry industry, competition for investments in the poultry industry, shareholder liability, government regulation, and environmental matters. Accordingly, there can be no assurance that actual results will be consistent with these forward-looking statements. Except as required by applicable law, Industrias Bachoco, S.A.B. de C.V. undertakes no obligation to publicly update or revise any forward-looking statements.
