Del Monte Pacific to sell 13% of Philippine unit for US$130m

Singapore

MAINBOARD-LISTED food and beverage company Del Monte Pacific said it has entered into an agreement for the proposed sale of a 13 per cent stake in its indirect wholly-owned subsidiary Del Monte Philippines, Inc (DMPI) for US$130 million.

The "Investor", as the group termed the buyer in its regulatory filing on the Singapore Exchange on Friday evening, is a Singapore-incorporated company, SEA Diner Holdings Pte Ltd.