Digital News Report – Procter & Gamble Company (NYSE:PG) announced today that the transaction to sell the Pringles brand to Diamond Foods Inc. (NYSE: DMND) will close by the end of June 2012. This date was moved from the previous expected sale closure date of December 2011.
Diamond Foods needed more time to conduct an accounting review, which will give the company time to make sure that everything is in order. Procter & Gamble still wants the transaction to complete.
Procter & Gamble also ensured investors that the delay of the sale of Pringles to Diamond Foods will not affect their planned restructuring. Soon, Procter & Gamble will inform investors of the updated restructuring perspective.
By: Tim Edwards