Monday, September 14, 2015

Guangming group overseas and the new destination spent nearly 4 billion to buy

Photo: network

On September 14, reports Bloomberg, people familiar with the matter said bright food group has adopted a resolution, investment in New Zealand's biggest meat company silver fern farms (Silver Fern Farms) 50% shares, or the amount will reach US $ 600 million (about 3.82 billion yuan).

The night of 14th, Shanghai meilinzhengguang and bright food group limited (600073. SH) announcement, confirmed that significant asset purchase plan. Notice that the transaction for cash, does not involve purchasing assets through issuing shares. Takeover hopes by silver fern farms red meat import and export business, integrating existing pig breeding, slaughtering and processing, meat products manufacturing, distribution and sales resources to build the Shanghai meilin meat for the entire value chain integration platform, to increase profitability. Shanghai meilin stock suspension since August 18 this year, according to the announcement on September 8, Shanghai meilin and related parties for major asset restructuring are matters for consultation, investigation, audit, valuation, and so on.

Silver fern farms was established in 1948, is New Zealand's largest integrated meat processing enterprise. Total revenues rose 5.4% silver fern farms last year, to $ 561 million (about 3.57 billion yuan), slaughtering more than 735,000, 2004-year highs. According to the information released by the company to investors last month, the company's pre-tax margin this year is expected to reach 75 million and 85 million new Yuan (about 3.015-342 million yuan). Guangming group overseas and the new destination spent nearly 4 billion to buy New Zealand's largest meat companies

New Zealand is an important exporter of meat products, and more than 80% of the lamb and beef for export, is New Zealand's second largest export product. According to Ministry of commerce data in 2014, New Zealand total exports reached 50 billion new Yuan (about 201.01 billion yuan) in 2013 from 2.1 billion new Yuan as the global beef prices continue to rise, meat New Zealand Export mainstay.

China is New Zealand beef and lamb exports an important market. According to New Zealand mutton and beef Association statistics, 2014-2015 China imported New Zealand beef more than 40,000 tons, after the United States, and over 70,000 tons of imported lamb, as the largest overseas market.

As of now, on international acquisitions, the light group successfully acquired New Zealand new Wright dairy company 51% equity, Australia manasen food group 75% equity, United Kingdom Weetabix breakfast cereal company 60% equity, France divA Bordeaux wine company 70% equity, Italy olive oil enterprise Salov90% ownership, Israel Tunva dairy 76.7% equity. Mergers and acquisitions has been around the bright food's main industry is the food industry.

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