HONG KONG (Yosefardi) – First Pacific Company Limited, controlled by Salim Group, has canceled its plan to acquire all the business and undertaking, including all the assets and liabilities, of Cocoaland, a Malaysian snack and candy company.
The reason is due to the Company’s determination, after completion of the due diligence exercise, that the strategic fit offered by Cocoaland differs from what the Company had envisaged. Accordingly, the Proposal is aborted.
First Pacific is an investment firm with holdings in telecommunications, consumer food products and resource companies.