New York, NY -- (SBWIRE) -- 03/01/2013 -- CRIMSON WINE (OTC:CWGL) announced last week that its spin-off from Leucadia National Corporation had been completed. Crimson, which held all of Leucadia's wine operations, was distributed to Leucadia's shareholders through a pro rata dividend of all of the shares of Crimson common stock.
Holders of record of Leucadia's common shares as of the close of business on February 11, 2013, the record date for the spin-off, that did not subsequently trade the entitlement to their shares of Crimson common stock, received one share of Crimson common stock for every 10 Leucadia common shares held on the record date, with cash in lieu of fractional shares to be later distributed.
Crimson, a Delaware corporation, produces and sells premium, ultra-premium and luxury wines.
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Nestle (OTC:NSRGY) reported sales were up CHF 8.6 billion, or 10.2%, to CHF 92.2 billion on 14th February. Organic growth was 5.9%, building on the strong growth of recent years, and was composed of 3.1% real internal growth and 2.8% pricing. After years of adverse impact, foreign exchange added 1.7% to sales, and acquisitions, net of divestitures, a further 2.6%.
Nestle has a positive outlook. The Company stated “The environment looks to be every bit as challenging in 2013 as it was in 2012. But 2013 will again provide opportunities to leverage our competitive advantages, deliver on our growth opportunities and benefit from our drive for continuous improvement across the Group. We expect, therefore, to deliver the Nestlé Model once again in 2013: organic growth between 5% and 6% together with an improved trading operating profit margin and underlying earnings per share in constant currency, as well as improvement in our capital efficiency.”
Nestle S.A., together with its subsidiaries, provides nutrition, health, and wellness products worldwide.
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