The sale of Hendrix is agreed for a total consideration of €92.5 million, resulting in a book profit for Nutreco at completion. As part of the transaction, Nutreco and ForFarmers have entered into a long term strategic partnership, including a know-how agreement. Nutreco and ForFarmers plan to conclude a definitive agreement upon completion of required consultation with the relevant works councils. It is expected that completion of the transaction will take place in the first quarter of 2012 upon ForFarmers gaining regulatory approval from the European anti-competition authorities and shareholder approval. Approximately 690 employees that work for Hendrix will transfer to the new owner. All together 1,500 people will work for the new entity. With this transaction ForFarmers takes over Hendrix UTD (Netherlands) and Hendrix UTD GmbH (Germany), Hendrix Broilers, Hendrix Haeck, Pavo, Reudink, Hedimix and Hendrix Illesch. The takeover creates the largest feed company in Europe with a turnover of €5 billion and a production of six million tons of feed, divided in 4.5 million tons of compound feed and 1.5 million tons of single raw materials, dry and wet by-products.