Mexican frozen food company Sigma and Shuanghui International Holdings of China have signed an agreement to share ownership of Spanish meat processor Campofrio (CPF.MC), cooling hopes of a bidding war.
The deal, which values Campofrio at 700 million euros ($957 million), is the latest in Spain by Latin American buyers keen to tap into an economic turnaround and among only a handful of commitments by Chinese companies in major listed Spanish firms.
Campofrio\’s shares hit a 52-week high this month on expectations that Shuanghui would make a higher bid after Sigma\’s November takeover offer of 6.8 euros per share.
via Spanish meats group Campofrio gets new foreign owners | Reuters.
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