RFG pulls out of La Porchetta purchase

In an announcement to the Australian Securities Exchange this afternoon, RFG said the share purchase agreement (SPA) for the La Porchetta deal has been terminated but discussions are continuing.

“The SPA was subject to a number of conditions, including satisfactory completion of the company’s due diligence investigations,” said RFG.

“RFG advises that the foregoing condition has been satisfied, and as a consequence, the SPA has been terminated.”

“Notwithstanding the forgoing, RRG is presenting engaging with the La Porchetta vendors in connection with those matters which have influenced the above outcome, and will keep the market advised of any future developments.”