<article>PAN Food, a subsidiary of agriculture-focused firm <a style="color: #000080;" href="http://www.panpacific.vn/">Pan Pacific</a>, has upped its stake in confectionery company <a style="color: #000080;" href="http://www.bibica.com.vn/">Bibica</a> from 21.13 per cent to 42.25 per cent.</article>

PAN Food, a subsidiary of agriculture-focused firm <a style="color: #000080;" href="http://www.panpacific.vn/">Pan Pacific</a>, has upped its stake in confectionery company <a style="color: #000080;" href="http://www.bibica.com.vn/">Bibica</a> from 21.13 per cent to 42.25 per cent.
Last month, PAN Food had made a purchase offer for 4.6 million Bibica shares at a unit price of VND56,800 ($2.6) each.Based on the offered price, PAN Food has spent VND185 billion on acquiring the additional stake.
Concluding the transaction, PAN Food managed to buy only 3.26 million shares, failing  to gain a controlling stake of 51 per cent.
By acquiring a total of 42.25 per cent, the Hanoi-based food company has become Bibica’s second largest shareholder after Korea’s conglomerate <a style="color: #000080;" href="https://www.lotte.co.kr/eng/01_about/lotte_vision.jsp">Lotte</a>, which holds 44.03 per cent stake in the company. Both Lotte and PAN Food have now gained the veto right due to their major holdings in this commercial baker.
Also Read: <a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/vns-pan-food-koreas-lotte-vie-for-controlling-stake-in-bibica-3960/">VN’s Pan Food, Korea’s Lotte vie for controlling stake in Bibica</a>
Lotte and Pan Pacific have been engaged in an ongoing war for the control of Bibica, which opted for Lotte partnership in 2007, but it did not fare as well as expected.
Since then both Pan Pacific and  Lotte have  been locked in a race to to take over Vietnam’s second biggest confectionery maker by market share.
Also Read: <a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/exclusive-pan-food-increase-stake-bibica-beyond-15-per-cent-2659/">PAN Food increases stake in Bibica to 21%</a>
Pan Pacific is an investment firm in agriculture, fisheries and food sectors through merger and acquisition (M&amp;A) transactions.Through PAN Food, it is expected to continue to consolidate its presence in Bibica and leverage domestic interests.
Also Read: <a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/pan-pacific-has-a-mission-to-invest-in-agriculture-nguyen-duy-hung-4944/">Pan Pacific has a mission to invest in agriculture: Nguyen Duy Hung</a>

PAN Food, a subsidiary of agriculture-focused firm Pan Pacific, has upped its stake in confectionery company Bibica from 21.13 per cent to 42.25 per cent.

Vietnam's PAN Food ups stake in Bibica to 42.25%

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Vietnam's PAN Food ups stake in Bibica to 42.25%

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