Singapore-listed Fraser & Neave (F&N) is proposing to acquire an additional 17.41 million shares of Vietnam-based Vietnam dairy producer, Vinamilk, while the Competition & Consumer Commission of Singapore (CCCS) is now seeking public consultation on the proposed merger between Breadtalk’s food court business and its peer, Food Junction.
F&N to acquire additional stake in Vinamilk
Singapore Exchange (SGX) Mainboard-listed Fraser & Neave (F&N) Limited has entered into an agreement with Vietnam Dairy Products Joint Stock Company (Vinamilk) for the proposed acquisition of up to an additional 17.41 million Vinamilk shares, or 1 per cent stake, and the possible acquisition of more Vinamilk shares in the future.
According to Vinamilk’s full-year (FY) 2018 annual report, as at December 31, 2018, Vinamilk’s issued ordinary shares amounted 1.74 billion shares worth VND 17.42 billion ($751.23 million)
DealStreetAsia reported in July 2018 that F&N Dairy Investments, part of F&N, has registered to purchase additional shares of Vinamilk to lift its ownership to 18.31 per cent. At that time, F&N’s percentage stake in Vinamilk was 20 per cent.
F&N’s current stake in Vinamilk continues to remain at approximately 20.01 per cent as of September 11, 2019.
Breadtalk-Food Junction merger submitted for public consultation
The Competition & Consumer Commission Singapore (CCCS) has now submitted the BreadTalk-Food Junction merger proposal for public consultation from September 11-24, 2019.
Singapore Exchange (SGX) Mainboard-listed Breadtalk’s food court business (Food Republic) and Auric Pacific’s Food Junction Management Pte Ltd (FJM) recently announced the proposed S$80.00 million ($57.59 million) merger agreement.
CCCS is now seeking views on issues like competition, ease for users in a switch to other food court business (following the merger), impact on price and service quality of the merged group, among others.