Seaboard Corp (SEB, Financial) filed Annual Report for the period ended 2010-12-31.
Seaboard Corp. has a market cap of $2.66 billion; its shares were traded at around $2191 with a P/E ratio of 14 and P/S ratio of 0.7. The dividend yield of Seaboard Corp. stocks is 0.1%. Seaboard Corp. had an annual average earning growth of 5% over the past 10 years.
million a 25% non-controlling interest in a commodity trading
business in Australia. Also during the fourth quarter of
2010, Seaboard combined its existing investment in poultry
operations in Africa with another existing African based
poultry business. Seaboard invested an additional $10.5
million in this newly combined poultry business for a total
investment of $17.0 million, which represents a 50% non-
controlling interest. This newly combined business has
operations in parts of Eastern and Southern Africa and is also
expanding by building new operations in Central Africa.
On December 6, 2010, Seaboard acquired a 50 percent non-
controlling voting interest in Butterball from the Maxwell
Group, for a cash purchase price equal to approximately $177.5
million. Butterball is a vertically integrated producer,
processor and marketer of branded and non-branded turkeys, and
other turkey products. The other 50 percent ownership
interest in Butterball will continue to be owned by the
Maxwell Group. In connection with the purchase, Butterball
acquired the live turkey growing and related assets of the
Maxwell Group (which previously owned a 51 percent interest in
Butterball) and of Murphy-Brown LLC ("Murphy Brown"), a
subsidiary of Smithfield Foods, Inc., which previously owned a
49 percent interest in Butterball. Butterball previously
purchased a portion of the turkeys it processed from the
Maxwell Group and Murphy Brown. In connection with this
transaction, Seaboard provided Butterball with a $100,000,000
unsecured subordinated loan with a seven year maturity and
interest of 15% per annum, comprised of 5% payable in cash
semi-annually, plus 10% pay-in-kind interest compounded semi-
annually and paid at maturity. As part of the subordinated
financing, Seaboard received detachable warrants representing
5% of the fully diluted equity units in Butterball with a
strike price of $0.01 per unit.
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Seaboard Corp. has a market cap of $2.66 billion; its shares were traded at around $2191 with a P/E ratio of 14 and P/S ratio of 0.7. The dividend yield of Seaboard Corp. stocks is 0.1%. Seaboard Corp. had an annual average earning growth of 5% over the past 10 years.
Highlight of Business Operations:
During the fourth quarter of 2010, Seaboard acquired for $5.0million a 25% non-controlling interest in a commodity trading
business in Australia. Also during the fourth quarter of
2010, Seaboard combined its existing investment in poultry
operations in Africa with another existing African based
poultry business. Seaboard invested an additional $10.5
million in this newly combined poultry business for a total
investment of $17.0 million, which represents a 50% non-
controlling interest. This newly combined business has
operations in parts of Eastern and Southern Africa and is also
expanding by building new operations in Central Africa.
On December 6, 2010, Seaboard acquired a 50 percent non-
controlling voting interest in Butterball from the Maxwell
Group, for a cash purchase price equal to approximately $177.5
million. Butterball is a vertically integrated producer,
processor and marketer of branded and non-branded turkeys, and
other turkey products. The other 50 percent ownership
interest in Butterball will continue to be owned by the
Maxwell Group. In connection with the purchase, Butterball
acquired the live turkey growing and related assets of the
Maxwell Group (which previously owned a 51 percent interest in
Butterball) and of Murphy-Brown LLC ("Murphy Brown"), a
subsidiary of Smithfield Foods, Inc., which previously owned a
49 percent interest in Butterball. Butterball previously
purchased a portion of the turkeys it processed from the
Maxwell Group and Murphy Brown. In connection with this
transaction, Seaboard provided Butterball with a $100,000,000
unsecured subordinated loan with a seven year maturity and
interest of 15% per annum, comprised of 5% payable in cash
semi-annually, plus 10% pay-in-kind interest compounded semi-
annually and paid at maturity. As part of the subordinated
financing, Seaboard received detachable warrants representing
5% of the fully diluted equity units in Butterball with a
strike price of $0.01 per unit.
Read the The complete Report
