SIG said, the loss of CW contract will free up over $300m cash.
“Importantly for Sigma, this decision provides a clearer future and a runway to make the required changes to re-shape the operating and fixed cost base of our business. Over $300 million cash will be freed up at the conclusion of the contract which will enable us to expedite the execution of our strategy to diversify and strengthen our business with a broader healthcare focus,” Mr Hooper said.
Sigma will continue to supply the MC/CW Group under the terms of the existing supply agreement which operates until 30 June 2019.”
AFR:
The contract win came at a cost for EBOS, with several sources saying it agreed to give Chemist Warehouse a $75 million up-front payment and committed another $200 million of working capital. Other sources said negotiations were ongoing.
https://www.copyright link/business...ists-battle-corporate-players-20180705-h12ad6
SIG said, the loss of CW contract will free up over $300m cash....
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