Shuanghui International Holdings Ltd Mergers and Acquisition Spain’s Campofrio
Nov 27 - China's Shuanghui International Holdings plans to launch a counterbid for Spanish meat processor Campofrio, citing sources close to a major financing deal for the Chinese group.
Campofrio, a household name in Spain whose products include hot dogs and canned ham, is the target of a 6.8 Euros-per-share takeover offer from Mexican frozen food company Sigma Alimentos, valuing the company at 695 million Euros ($943 million).
Shuanghui inherited a 37 percent stake in Campofrio when it bought U.S. pork producer Smithfield Foods for $4.7 billion earlier this year.
It said in September it planned to reduce the holding to less than 30 percent by December, below the threshold which would require it to make a full takeover bid under Spanish market rules, and giving it time to consider its options. However, after signing an $8 billion credit line with the Bank of China on Wednesday to finance its international expansion, Spanish daily El Mundo said Shuanghui now plans to fight for control of Campofrio. Shares in Campofrio closed on Wednesday up 0.14 percent at 7.20 Euros. ($1 = 0.7367 Euros)
Michael Boddington from Asian Agribusiness Consulting (AAC) has been involved in agribusiness in Asia since 2000. AAC has office both in Vietnam Ho Chi Minh City and China Beijing. So AAC has a thorough understanding of the Viet Nam and China aqua industry and produces up-to-date research reports on the market. We can offer insights on supply and demand trends and comments on the future structure of Asian agribusiness. If you would like to know more please email This email address is being protected from spambots. You need JavaScript enabled to view it.
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