Indonesia’s PT Indofood Sukses Makmur Tbk has launched an offer for Singapore-listed China Minzhong at S$1.12 per share, valuing the company at around S$734 million. In a filing with the Singapore Exchange, Indofood said it now owns, controls or has agreed to acquire around 33.49 per cent of Minzhong. This comes after the company agreed to buy from the market 25.59 million China Minzhong shares, which represented 3.9 per cent of the company’s total issued shares…Full-text article: Channel NewsAsia Sep 2013
- On 17 February 2013, Indofood acquired a 14.95% stake in China Minzhong
- In March 2013, increased its stake to 29.3% stake
- Established in 1971 and headquartered in Fujian Province, Minzhong is a leading Chinese integrated vegetable and fruit processor. The company produces over 100 types of processed vegetables that are processed using methods such as air drying, freeze-drying, fresh-packing and brining. These include mushrooms, peppers, chives, garlic, tomatoes, celery, apples, bean sprouts, parsley, strawberries and more.