Donegal Creameries and the North Connacht Farmers Co-op (NCF) have revised downwards (#14.1 million) cash, but this has now been reduced to £9.57 million. There will, however, be an earn-out of £1.88 million provided certain profit targets are attained in the period from completion to December 31st, 2001.

Donegal Creameries will now subscribe £3.49 million (down from £3.94 million) for subordinated loan stock in Bendory - the jointly-owned company - while NCF will subscribe £2.29 million (down from £2.59 million).

The remaining reduction in the initial cash consideration to be paid by Bendory for the Carbury acquisition will be reflected in reduced bank borrowings in Bendory.

The acquisition is subject to approval from Donegal Creameries shareholders at an extraordinary general meeting on September 8th and "to signing of the necessary legal documentation, which is now in an agreed format", according to Donegal.