Spun out Prion not looking at buyout

Spun out Prion not looking at buyout

While not totally ruling out a future acquisition by troubled global giant CHS, Prion managing director Michael Bosnar did admit this week that talks were on the "backburner".

"It is very unlikely that anything would happen in the next six months," Bosnar said.

Right now, Prion is focused on an internal restructure that will see it spun out as a separate entity from parent company AAG, which is planning to float.

"We'll be keeping an eye on how CHS is going with its recovery plan," he said.

Prion and CHA attended CHS' partner conference in Norway this month. Bosnar said he was impressed with the steps and strategy that CHS was putting in place as it attempts to put its operation back on the rails.

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