Japfa to pay US$5.7m for remaining 15% of Myanmar subsidiary

Singapore

AGRI-FOOD company Japfa on Monday said it has acquired the remaining 15 per cent of its Myanmar subsidiary Japfa Comfeed Myanmar (JCMA) for US$5.7 million, making JCMA a wholly owned subsidiary of the Japfa group.

The acquisition was made via a conditional share purchase agreement (SPA) between Japfa's wholly owned subsidiary Japfa Myanmar JV - which holds 85 per cent of JCMA - and Best Livestock Limited, an unrelated third party, for the remaining 15 per cent of JCMA's issued share capital.