Charoen Pokphand Foods to acquire a 25% stake in CP Pokphand for $898m.

Charoen Pokphand Foods, an agro-industrial and food conglomerate, agreed to acquire a 25% stake in CP Pokphand, a firm engaged in the manufacture and sale of animal feed products, breeding, farming and sale of livestock and aquatic animals, for $898m. CPF would pay $0.15 per share to purchase 6.08m shares from scheme shareholders in CPP under its plan to privatize the Hong Kong-based firm. After the transaction, CPF will increase its ownership at CPP to 75%. “Our swine-feed sales increased along with the recovering swine population in Vietnam. Also, our aquafeed sales generated solid growth as aqua-farmers raised more shrimp in response to higher export demand,” CPP.