Fairfax, Point North back take-private MBO of AGT Food

AGT Food and Ingredients Inc (TSX: AGT), a Regina-based supplier of pulses, staple foods and food ingredients, has received a non-binding proposal from management team members to take the company private. The group, led by President and CEO Murad Al-Katib, proposes to acquire AGT common shares not held by it and other shareholders for $18 in cash per unit. The Globe and Mail reports AGT has a market value of $319 million. Fairfax Financial Holdings and Point North Capital, which invested in the company last year, will retain their equity interests. Fairfax agreed to provide financing to the deal. AGT said its board will set up a committee to consider and respond to the proposal.

DealsCanadaNorth AmericaBriefs