<article>A unit of Philippine conglomerate <a style="color: #000080;" href="https://www.dealstreetasia.com/?s=Aboitizhttps://www.dealstreetasia.com/?s=Aboitiz" target="_blank" rel="noopener noreferrer">Aboitiz Equity Ventures (AEV)</a> has taken over <a href="https://www.dealstreetasia.com/?s=Eurofeed" target="_blank" rel="noopener">Europe Nutrition Co Ltd (Eurofeed)</a>, a Vietnam-based animal feeds producer.</article>

A unit of Philippine conglomerate <a style="color: #000080;" href="https://www.dealstreetasia.com/?s=Aboitizhttps://www.dealstreetasia.com/?s=Aboitiz" target="_blank" rel="noopener noreferrer">Aboitiz Equity Ventures (AEV)</a> has taken over <a href="https://www.dealstreetasia.com/?s=Eurofeed" target="_blank" rel="noopener">Europe Nutrition Co Ltd (Eurofeed)</a>, a Vietnam-based animal feeds producer.
AEV food arm <a href="https://www.dealstreetasia.com/?s=Pilmico" target="_blank" rel="noopener">Pilmico International Pte Ltd </a>acquired 70 per cent of the outstanding shares of Eurofeed over the weekend in a bid to expand its animal feed business in Vietnam.
Established in 2000, Eurofeed is a joint stock company organised under the laws of Vietnam with a factory producing animal feed of Vietnamese enterprises but aiming for quality standards in Europe.
Pilmico International bought 2.8 million shares of Eurofeed with price still under negotiations but is considering $3.7 million.
Eurofeed&#8217;s enterprise value is pegged at $5.3 million, minus long-term debt and short term debt as reflected in the books of Eurofeed at closing date.
&#8220;Purchase price is 70 per cent of the equity value, subject to price adjustments on the basis of a closing audit review,&#8221; AEV said in its statement.
Pilmico International in 2016 acquired 100 per cent ownership interest in <a href="https://www.dealstreetasia.com/?s=Pilmico" target="_blank" rel="noopener">Pilmico Viet Nam Trading Company Limited (Pilmico Vietnam)</a>, a limited liability company engaged in the wholesale of food products, beverages, agricultural and forestry raw materials, among others.
AEV last traded at P74.90 per share on Monday.
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AEV's food arm Pilmico International bought 70 per cent outstanding shares of Eurofeed with price still under negotiations but is considering $3.7 million.

Philippines: Aboitiz Equity unit takes over Vietnam-based Eurofeed

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Philippines: Aboitiz Equity unit takes over Vietnam-based Eurofeed

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