China Minzhong

China Minzhong: PT Indofood Sukses Makmur’s (Indofood) offer for China Minzhong has turned unconditional, after the group acquired more shares through direct purchases, taking its stake beyond 50%. Indofood believes its acquisition of a controlling interest in China Minzhong would be mutually beneficial to both Indofood and Minzhong and would accelerate Minzhong’s growth and development by broadening its exposure to new and existing markets. Concurrently, Indofood could leverage on Minzhong’s business model, technology and expertise to strengthen its supply chain and expand its product portfolio and believe that the strategic acquisition will be mutually beneficial to both entities. Separately, in its response to Glacaus supplemental report, China Minzhong note that in essence, no fresh allegations were raised by Glaucus and old issues are rehashed in a desperate attempt to justify their earlier ‘reckless opinions, advice and conclusions’.