A company controlled by Indonesian billionaire Anthoni Salim offered to acquire the rest of China Minzhong Food Corp in a deal valuing the Chinese company at S$786 million ($584 million). The deal could help the tycoon exercise greater control over a food empire spanning potato chips, instant noodles and cooking oil. Full ownership of Minzhong Food could also make it easier to sell it off…Full Article: China Daily Sept 2016
- Indofood will sell the majority of its 82.88% stake in China Minzhong to Marvellous Glory Holdings, a British Virgin Islands investment company that is controlled (as with Indofood) by Anthoni Salim. If the buyout is completed, China Minzhong will be delisted from the Singapore Stock Exchange.
- By September 2013, Indofood had a 33.49% stake in China Minzhong.
- In March 2013, Indofood’s stake in China Minzhong increased to 29.33% after an US$85 million investment.
- In February 2013, Indofood acquired a 14.95% stake in China Minzhong for US$89 million.
- Founded in 1971 and headquartered in Putian, Fujian Province, China Minzhong Food (SGX:K2N), China Minzhong Food produces over 100 types of processed vegetables that are processed using methods such as air drying, freeze-drying, fresh-packing and brining. China Minzhong carries out industrial level mushroom cultivation in Tianjin and Jiangsu Province.