CPF shareholders endorse Bt131bn China swine deal
Charoen Pokphand Foods (CPF)’s shareholders have approved the Bt131-billion planned acquisition of a swine business in China, which will turn CPF into a global leader in the pig industry.
CPF said 99 per cent of minor shareholders approved the plan acquire its parent Chareon Pokphand Group’s Chinese swine business at an extraordinary meeting on Tuesday.
Prasit Boondoungprasert, CEO of CPF, said that the acquisition marks a great opportunity to penetrate the Chinese swine market, the world’s largest.
CPF said it would expand its business by promoting modern disease-prevention measures to combat China’s outbreak of African Swine Fever.
CPF’s pig business currently covers seven countries – Thailand, Vietnam, Cambodia, Malaysia, the Philippines, Russia and Canada.
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