SINGAPORE (Yosefardi) – PT Indofood Sukses Makmur (INDF) Tbk, controlled by Salim Group, has completed the tender offer of China Minzhong Food Corporation Ltd on Friday (October 18).
At closing, Indofood owned, controlled, and agreed to acquire 583.55 million shares or about 89.03% of the total issued shares of China Minzhong Food.
Prior to the tender offer, Indofood controlled 219.75 million shares or about 33.53% of the total issued shares in the mushroom producer.
China Minzhong’s shares closed lower by 1.34% to S$1.11 on Friday, October 18, to make a market capitalization of S$724.3 million.