CP Foods looks to delist China & Vietnam feed subsidiaries

CP Foods looks to delist China & Vietnam feed subsidiaries

The board of directors of Thai food giant Charoen Pokphand Foods is planning to privatize its Vietnam and China feed subsidiaries and delist from the Hong Kong Stock Exchange, it announced recently on September 30th. The group is proposing a $900 million privatization plan to minority shareholders & the proposal, which would be considered an acquisition of assets, has a maximum cash consideration of HKD6,991.27 million (US$897.79 million). Upon approval of the proposal by shareholders, the listing of the shares of the company on the stock exchange would be withdrawn.

CP Foods is Thailand’s largest integrator of poultry and pig meat and one of the world’s biggest agribusiness enterprises. CPF’s farm segment includes breeding, raising livestock and primary processing. Additionally, CPF is engaged in feed manufacturing and distribution, and production of cooked and prepared meal products. CPF has two main business operations: domestic production and export sales, and overseas operations in 10 countries (China, Vietnam, Taiwan, India, Turkey, Russia, Cambodia, the Philippines, Laos and Poland). The company holds additional investments in Laos and the United Kingdom.