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Itochu Corp forms business and capital alliance with Charoen Pokphand Group


Thursday, 24 Jul 2014 02:30am EDT 

Itochu Corp:Formed business and capital alliance with Charoen Pokphand Group (CPG) on July 24.To cooperate on joint development of opportunities for business expansion in non-resource sector.To cooperate on promotion of joint initiatives in animal feed, livestock and marine related areas, mainly in Asian regions such as Thailand, China and Vietnam, and establishment of systems for supplying raw materials to those regions.To acquire about 6,018,000,000 shares (25 pct voting rights) of C.P Pokphand (CPP), subsidiary of a main group company in CPG, named Charoen Pokphand Foods Public for about 6,620 million HK dollars from CPF and CPF Investment, wholly owned subsidiary of CPF. 

Company Quote

1198.0
-14.5 -1.20%
21 Oct 2014