JAPFA on Wednesday said it is planning to sell a 25 per cent stake in its subsidiary to Japanese conglomerate Meiji for US$254.4 million in cash. In addition, the subsidiary will get to supply raw milk to Meiji on a five-year rolling basis, renewable annually. Read more at The Business Times.
Tan Yong Nang, Japfa's CEO, said that the company has for"many years" been supplying raw milk to Meiji, which had approached Japfa to support Meiji's growth plans in China.
The deal is subject to the approval of Japfa's shareholders at an extraordinary general meeting, which is likely to be after the company's annual general meeting by June 25.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Japfa sells minority stake in dairy unit to Meiji for US$254mJAPFA on Wednesday said it will sell a 25-per-cent stake in its subsidiary to Japanese conglomerate Meiji for US$254.4 million in cash. In addition, the subsidiary will get to supply raw milk to Meiji on a five-year rolling basis, renewable annually. Read more at The Business Times.
Read more »
Japfa sells minority stake in dairy unit to Meiji for US$254mJAPFA on Wednesday said it will sell a 25-per-cent stake in its subsidiary to Japanese conglomerate Meiji for US$254.4 million in cash. In addition, the subsidiary will get to supply raw milk to Meiji on a five-year rolling basis, renewable annually. Read more at The Business Times.
Read more »
Renault sells its stake in Chinese joint venture to partner Dongfeng MotorFrench carmaker Renault said on Tuesday it was selling out of its stake in a Chinese joint venture with Dongfeng Motor Corporation to Dongfeng, ...
Read more »
CDL to scoop up controlling stake in China's Sincere Property GroupCITY Developments Limited (CDL) is acquiring a 51.01 per cent stake in Chinese real estate developer Sincere Property Group for RMB4.39 billion (about S$0.88 billion), which will enable it to expand its footprint in China. Read more at The Business Times.
Read more »
Beaumont proposes World Rugby review in wake of Pichot challengeWorld Rugby chairman Bill Beaumont has laid out his platform for re-election in a manifesto promising a major review of the global governing body ...
Read more »
PSA International's Saudi unit secures Dammam port container terminal dealSINGAPORE - Saudi Global Ports (SGP), a subsidiary of Singapore's PSA International, and Saudi Ports Authority (Mawani) agreed to build the two container terminals at the King Abdulaziz Port in Dammam.. Read more at straitstimes.com.
Read more »