Brokers' take
DAIRY FARM INTERNATIONAL HOLDINGS | HOLD March 26 close: US$7.88 Target price: US$8.40 CGS-CIMB, March 24
Dairy Farm plans to acquire an 18.25 per cent stake in, and be a partner with, Robinsons Retail Holdings in a deal worth around US$520 million.
We are positive the deal could add scale for its Philippines business, given Robinsons Retail Holdings' size.
The stake could translate to about US$20-22 million to Dairy Farm's associate income, which stood at US144 million in 2017, but the additional assoc…
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