Thai Union on Wednesday put in an offer for the remaining 25 percent of Pakfood for THB 444.7 million (USD 13.7 million, EUR 10.3 million).
Thai Union already owns about 75 percent of the company, it’s offer price for the remaining 25.36 percent of shares in the company is THB 53.1 (USD 1.65, EUR 1.23) per share. Thai Union acquired its first 40 percent stake in Pakfoods in December of last year. With the initial merger, Thai Union procured nearly 20 percent of annual Thai shrimp output.
One of Thailand’s leading frozen seafood processors and exporters, Pakfood’s main products are frozen shrimp, pasteurized crab meat and ready-to-eat meals, and its T Time brand of value-added food products, namely dim sum, is marketed domestically.
The tender period for the offer runs until 31 October.
Thai Union already owns about 75 percent of the company, it’s offer price for the remaining 25.36 percent of shares in the company is THB 53.1 (USD 1.65, EUR 1.23) per share. Thai Union acquired its first 40 percent stake in Pakfoods in December of last year. With the initial merger, Thai Union procured nearly 20 percent of annual Thai shrimp output.
One of Thailand’s leading frozen seafood processors and exporters, Pakfood’s main products are frozen shrimp, pasteurized crab meat and ready-to-eat meals, and its T Time brand of value-added food products, namely dim sum, is marketed domestically.
The tender period for the offer runs until 31 October.
