C.P. Pokphand Co. Ltd. (SEHK:43) completed the acquisition of C.P. Aquaculture Co., Ltd. from Charoen Pokphand Foods Public Company Limited.
December 30, 2019
Share
C.P. Pokphand Co. Ltd. (SEHK:43) entered into a share purchase agreement to acquire C.P. Aquaculture (Beihai) Co., Ltd. from Charoen Pokphand Foods Public Company Limited (SET:CPF) for CNY 35 million on February 18, 2019. The consideration will be paid in cash within sixty days following the date of closing. In related transactions, three share purchase agreements have been signed. The consideration will be satisfied by use of C.P. Pokphand Co. Ltd. and its subsidiaries available internal resources and external financing. Upon completion, C.P. Aquaculture (Beihai) Co., Ltd. will become a wholly owned subsidiary of the C.P. Pokphand Co. Ltd.
C.P. Aquaculture (Beihai) Co., Ltd. reported net asset value of CNY 13.7 million and loss after tax of CNY 2.4 million as of December 31, 2018. The deal is condition upon: (i) Charoen Pokphand Foods Public Company Limited and C.P. Aquaculture (Beihai) obtaining all necessary consents from third parties as required under the transaction and (ii) Charoen Pokphand Foods Public Company Limited and C.P. Aquaculture (Beihai) obtaining all necessary approvals from and registrations or filings with the government authorities. Closing will take place on the day on which C.P. Aquaculture (Beihai) Co., Ltd. completes the State Administration for Market Regulation registration for C.P. Pokphand Co. Ltd. to become its shareholder.
C.P. Pokphand Co. Ltd. (SEHK:43) completed the acquisition of C.P. Aquaculture (Beihai) Co., Ltd. from Charoen Pokphand Foods Public Company Limited (SET:CPF) during 2019.
Charoen Pokphand Foods Public Company Limited is a Thailand-based company, which is engaged in the agro-industrial and integrated food businesses. The Company operates through two segments: livestock and aquaculture. The livestock business comprises of chicken, duck, and pigs. The aquaculture business segment comprises of shrimp and fish. The Company's integrated agro-industrial and food businesses includes animal feed production, animal breeding, animal farming, primary meat processing, food production and ready-to-eat food as well as meat and food retail outlets, all of which are conducted by placing importance on animal welfare and biosecurity system. The Company's products are divided into three categories, namely, animal feed, animal farm products such as animal breeder, live animal and primary processing meat, and processed foods and ready meals. Its other products include swine, broiler, layer, duck, and shrimp. The Companyâs products are distributed under the CP brand.
CHAROEN POKPHAND FOODS 
