China Minzhong Food Corporation

[Nick]

GIC has sold their shares to Indofood earlier this year. They are no longer vested in this Company.

AS EXPECTED by market watchers, PT Indofood Sukses Makmur has raised its stake in China Minzhong Food Corporation.

China Minzhong, a Singapore-listed Chinese vegetable processor, said that Indofood has doubled its shareholding interests from 14.95 per cent to 29.33 per cent.

The additional 14.38 per cent stake came from the acquisition of 94.25 million shares from Tetrad Ventures for about $105.6 million, or $1.12 a share.

Tetrad, an investment company of the Government of Singapore Investment Corporation, sold its equity stake on Feb 28.

Indofood, an Indonesian-listed packaged food producer whose offshoot is Singapore-listed Indofood Agri Resources, acquired its first 98 million shares, or a stake of 14.95 per cent, in China Minzhong through a placement earlier last month at a subscription price of 91.5 cents apiece, or $89.67 million in total.

http://www.agri-biz.com/SingleNews.aspx?...ode=866432 [Full Article]