NetworkNewsBreaks – Youngevity International, In
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Posted On: 03/12/2020 2:26:07 PM
NetworkNewsBreaks – Youngevity International, Inc. (NASDAQ: YGYI) Exploring Divestiture of Direct Selling Business Unit to Original Founders
Youngevity International (NASDAQ: YGYI), a leading multi-channel lifestyle company operating in three distinct business segments including a commercial coffee enterprise and a commercial hemp enterprise, today announced that it is exploring the divestiture of its direct selling business unit back to the original founders of the direct selling division. According to the update, YGYI has entered into a non-binding term sheet regarding a potential transaction with Steve and Michelle Wallach, and its board of directors has formed a special committee consisting of all of its independent directors to review and consider the terms of the proposed transaction. An investment banking firm has been engaged by the special committee to review the fairness of the proposed transaction to stockholders. “I believe that the potential of this divestiture strengthens the opportunity for all stakeholders and the focus that this will bring to the various divisions will allow both the public company and the direct selling division to thrive and better leverage their core competencies. The sales and supply agreements that will exist between the two entities, post divestiture, should allow for a seamless transition that benefits both companies,” Youngevity CEO Steve Wallach said in the news release. “The trust and respect and the strong relationship we have built with our President and CFO, Dave Briskie, provides us with a great deal of optimism that this potential transaction can provide a long-term beneficial relationship between our companies and all stakeholders.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Youngevity International (NASDAQ: YGYI), a leading multi-channel lifestyle company operating in three distinct business segments including a commercial coffee enterprise and a commercial hemp enterprise, today announced that it is exploring the divestiture of its direct selling business unit back to the original founders of the direct selling division. According to the update, YGYI has entered into a non-binding term sheet regarding a potential transaction with Steve and Michelle Wallach, and its board of directors has formed a special committee consisting of all of its independent directors to review and consider the terms of the proposed transaction. An investment banking firm has been engaged by the special committee to review the fairness of the proposed transaction to stockholders. “I believe that the potential of this divestiture strengthens the opportunity for all stakeholders and the focus that this will bring to the various divisions will allow both the public company and the direct selling division to thrive and better leverage their core competencies. The sales and supply agreements that will exist between the two entities, post divestiture, should allow for a seamless transition that benefits both companies,” Youngevity CEO Steve Wallach said in the news release. “The trust and respect and the strong relationship we have built with our President and CFO, Dave Briskie, provides us with a great deal of optimism that this potential transaction can provide a long-term beneficial relationship between our companies and all stakeholders.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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