OXFORD - Scotia Holdings plc (LSE:SOH) was to announce on Monday that General Mills Inc. will acquire exclusive North American development and distribution rights for all food and beverage applications of SOH's Olibra satiety technology. Moreover, the $6 billion consumer foods company will acquire exclusive global rights to develop the technology for the ready-to-eat cereals market.

The value of the deal is expected to lie in the royalties that SOH will receive once products are launched. General Mills (Minneapolis, Minn), which is not revealing financial details, is paying SOH a nominal upfront fee and a series of milestones, and must pay certain minimum annual payments to maintain its exclusive rights.

General Mills is expected to incorporate Olibra