Majority Holder Atlantic Blue Urges Alico to Pursue Sale
On January 28, 2013, representatives of ABG met with representatives of Alico and informed Alico of ABG's intention, in light of recent changes in the tax code relating to the sale of certain assets by "subchapter S corporations" such as ABG, to explore the potential sale of substantially all of ABG's assets during 2013 and, in connection therewith, to actively pursue the sale of ABG's entire equity position in Alico to a strategic or financial buyer.
ABG also suggested that, in cooperation with ABG's efforts, Alico explore the possibility of a transaction in which a strategic or financial buyer would acquire 100% of Alico's outstanding stock.
There can be no assurance that any agreement will be reached by ABG, Alico or both regarding any such transaction or that any such transaction will be consummated.
Also up for sale are three Atlantic Blue properties not part of Alico — Blue Head Ranch and Blue Head Farms on about 65,000 acres in Highlands and DeSoto counties and the 490-acre Tri-County Grove in Highlands County.