France's InVivo placed bid for Australia's United Malt -report

InVivo Therapeutics Holdings

27/03/2023 18:54

PARIS, March 27 (Reuters) - French agrifood group
InVivo, which has said it aimed to become the world's largest
producer of beer ingredient malt, has placed a bid for United
Malt  UMG.AX  through its branch Malteries Soufflet, the
Australian Financial Review reported on Monday.
    United Malt's shares have been suspended on Monday pending
an announcement on a change in control of the company.
    InVivo which acquired agribusiness peer Soufflet last year
had said it aimed to become the world's top malt producer within
five years through external growth. To help finance the
acquisition it had sold a minority share of the malt business to
several investors including KKR  KKR.N  and Credit Agricole
 CAGR.PA .
    United Malt Group is an Australia-based commercial maltster,
producing bulk malt for brewers, craft brewers, distillers and
food companies. The company has processing plants in Canada, the
United States, Australia and the United Kingdom.

 (Reporting by Sybille de La Hamaide and Gus Trompiz; Editing by
Richard Chang)
 ((Sybille.deLaHamaide@thomsonreuters.com; +336 8774 4148;))