July 23, 2015 / 2:02 AM / 4 years ago

Thai Union Frozen Products suspends share offering plan

BANGKOK, July 23 (Reuters) - Thai Union Frozen Products Pcl said on Thursday it had suspended its public share offering plan, pending the U.S. Department of Justice’s (DOJ) antitrust investigation of U.S. subsidiary Tri-Union Seafoods LLC.

TUF said last week it planned to raise almost 13 billion baht ($380 million) by offering new shares to existing shareholders to finance its planned purchase of U.S. rival Bumble Bee Seafoods.

Tri-Union operates a packaged seafood business in the United States under the brand Chicken of the Sea. (Reporting by Viparat Jantraprap; Editing by Stephen Coates)

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