CJ Cheiljedang Corp, South Korea’s largest food company, is buying a controlling stake in Shanghai-listed Meihua Holdings Group, a monosodium glutamate seller, for an undisclosed amount. Under the deal, CJ will transfer its biological fermentation assets in China to Meihua. In return, Meng Qingshan, the controlling shareholder of Meihua, and other shareholders will transfer part of their equity stake to CJ. Meihua will also issue an undisclosed amount of new shares to the South Korean firm…Full Article: China Daily Jan 2016
- If the acquisition is successful, CJ Cheiljedang will account for approximately 1/3 of the world’s “biological fermentation” business.
- On December 17 2015, Meihua Holdings Group’s shares were suspended on the Shanghai Stock Exchange.
- Founded in 2002 and headquartered in Langfang (between Beijing and Tianjin), Hebei Province, Meihua Holdings Group is a producer of food additives, condiments, amino acids, fertilizers, and other products. In 2010, the company was listed on the Shanghai Stock Exchange and has production facilities in Hebei, Inner Mongolia, Xinjiang, Dalian, Shanxi, and other regions.