Brief: Japfa Ltd Says Entered Into An Agreement With Meiji Co Ltd

Meiji Holdings

15/04/2020 11:30

April 15 (Reuters) - Japfa Ltd  JAPF.SI :
    * ENTERED INTO AN AGREEMENT WITH MEIJI CO., LTD.
    * CO TO SELL 25% OF ITS SHARE CAPITAL IN AUSTASIA INVESTMENT
HOLDINGS PTE LTD TO MEIJI FOR A TOTAL CASH CONSIDERATION OF
US$254.4 MILLION
    * FOLLOWING COMPLETION OF TRANSACTION, JAPFA WILL OWN A 75%
STAKE
IN AUSTASIA AND WILL CONTINUE TO MANAGE AUSTASIA'S FARMING
OPERATIONS IN CHINA
    * JAPFA WILL APPLY PROCEEDS OF TRANSACTION TOWARDS REPAYMENT
OF
US$253 MILLION TERM LOAN
    * DAY-TO-DAY OPERATIONS OF JAPFA HAVE NOT THUS FAR BEEN
MATERIALLY
IMPACTED BY COVID-19 OUTBREAK
    * AS COVID-19 OUTBREAK IS AN UNPRECEDENTED EVENT, IMPACT
GOING
FORWARD CANNOT BE RELIABLY ESTIMATED WITH ANY CERTAINTY

Source text for Eikon:  ID:nSN41NLpq 
Further company coverage:  JAPF.SI 

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