|
|
 | | | |
- close
- close
- close
- close
This excerpt taken from the GIS 10-Q filed Apr 7, 2005. (11) Subsequent Events On February 28, 2005, subsequent to the end of the third quarter, our 40.5 percent ownership interest in the Snack Ventures Europe joint venture was redeemed for $750 million. The redemption ends the European snack joint venture between General Mills and PepsiCo, Inc. After-tax cash proceeds of approximately $710 million from this transaction are being used to reduce debt. On March 21, 2005, subsequent to the end of the third quarter, we agreed to sell our Lloyd’s Barbecue business to the Hormel Foods Corporation. The transaction closed on April 4, 2005. On March 23, 2005, we commenced a cash tender offer for up to $500 million in aggregate principal amount of our outstanding 6% Notes due in 2012. The tender offer is expected to expire on April 20, 2005. Page 13
|
| |||||||
