Asset Acquisitions and Disposals::Acquisition of 50% of Three-A (Qinhuangdao) Food Industries Co. Ltd by Wilmar

Issuer & Securities

Issuer/ Manager
WILMAR INTERNATIONAL LIMITED
Securities
WILMAR INTERNATIONAL LIMITED - SG1T56930848 - F34
Stapled Security
No

Announcement Details

Announcement Title
Asset Acquisitions and Disposals
Date &Time of Broadcast
05-Sep-2017 17:16:19
Status
New
Announcement Sub Title
Acquisition of 50% of Three-A (Qinhuangdao) Food Industries Co. Ltd by Wilmar
Announcement Reference
SG170905OTHR324T
Submitted By (Co./ Ind. Name)
Teo La-Mei
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Further to the announcement dated 31 August 2010 by Wilmar International Limited ("Wilmar" or the "Company") on the establishment of a 50:50 joint venture company in China called Three-A (Qinhuangdao) Food Industries Co. Ltd ("3AQFI") held by Yihai Kerry Investments Co. Ltd. ("YKI"), a wholly-owned subsidiary of the Company and Three-A Food Industries (M) Sdn Bhd ("3AFIM"), a wholly-owned subsidiary of Three-A Resources Berhad ("3A"), a company listed on Bursa Malaysia, in which the Company holds a 15.65% equity interest, the Company wishes to announce that YKI has entered into a Sale and Purchase Agreement ("SPA") with 3AFIM to acquire all of 3AFIM's equity interest in 3AQFI for a total cash consideration of RMB5 million, subject to the conditions stated in the SPA. The said consideration was arrived at on a willing seller-willing buyer basis.

The acquisition by YKI of the 50% interest in 3AQFI from 3AFIM, when completed, will have no material impact on the financial position of the Company.

None of the directors or substantial shareholders of the Company has any interest, direct or indirect, in the above transaction other than through their shareholding interests in the Company.

Issued by
Wilmar International Limited
5 September 2017