Shuanghui joins Sigma Alimentos in offer for Spain’s Campofrio

December 30, 2013

According to Bloomberg, Shuanghui International Holdings Ltd., the Chinese company that bought the world’s biggest pork supplier this year, will join Alfa SAB (ALFAA)’s Sigma Alimentos food unit in a raised bid for Spain’s Campofrio Food Group SA (CFG).

Shuanghui, based in Hong Kong, and Mexico’s Sigma will increase the bid for Campofrio to €6.90/share from €6.80, the companies said in a joint statement. That values the company at about €705 million ($966 million). Sigma and Shuanghui plan to delist Campofrio after the transaction.

Shuanghui will indirectly hold its 37% stake in Campofrio after the offer, and Sigma Alimentos, Mexico’s largest processed-meats producer, will indirectly hold its own 45% stake plus shares acquired in the bid. Last month, Sigma Alimentos offered €6.80/share for Madrid, Spain-based sausage maker Campofrio.

Bloomberg article