Key Developments: Tingyi Cayman Islands Holding Corp (0322.HK)
13 Dec 2013
Latest Key Developments (Source: Significant Developments)
Tingyi (Cayman Islands) Holding Corp. and PepsiCo Inc. announced they have completed their transaction to create a strategic beverage alliance in China. The alliance was approved by the shareholders of Tingyi in February and received regulatory approval on March 29, 2012. As part of the alliance, Tingyi's beverage subsidiary – Tingyi-Asahi Beverages Holding Co Ltd (TAB), is now PepsiCo's franchise bottler in China. TAB will partner with PepsiCo's current bottlers to manufacture, sell and distribute PepsiCo's carbonated soft drink and Gatorade brands. In addition, PepsiCo and TAB will begin co-branding their respective juice drink brands using the Tropicana brand name under license from PepsiCo. PepsiCo will retain branding and marketing responsibilities for these products. Under the terms of the alliance, PepsiCo has contributed its indirect equity interests in its company-owned and joint venture bottling operations in China to TAB and received as consideration a 5% indirect equity interest in TAB. PepsiCo has an option to increase its indirect holding in TAB to 20% at its sole discretion by 2015. The shareholdings of PepsiCo's existing Chinese joint venture partners in the joint venture bottling operations will not change as a result of the transaction. Full Article
Tingyi (Cayman Islands) Holding Corp. announced that the Board has recommended the payment of a final dividend of USD0.0375 per ordinary share of the Company in respect of the year ended December 31, 2011. Subject to the approval of shareholders at the Annual General Meeting, the final dividend will be paid on or about July 25, 2012. The register of members of the Company will be closed from June 11, 2012, to June 13, 2012 (both dates inclusive). Full Article
TAIPEI, Dec 2 - Ting Hsin International Group, the parent of China's largest instant noodles maker Tingyi Holding Corp, has done due diligence on private equity fund MBK's Taiwan cable TV unit, the Economic Daily reported on Monday.