Monday, February 8, 1999
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