Charoen Pokphand Foods, or CPF, announced that C.P. Vietnam Corporation, a subsidiary in which CPF indirectly holds 100 percent, has entered into a share purchase agreement for common shares of Les Vergers Du Mekong Joint Stock Company, or LVDM, with LVDM shareholders. The total value is 235.058 billion Vietnamese dong, or approximately 336 million baht, representing 76.57 percent of LVDM's issued and paid-up shares. After the transaction is completed, LVDM will become a subsidiary of CPF. LVDM is a company incorporated in Vietnam and operates in the production and distribution of premium non-alcoholic beverages and fruit-based food products. The acquisition of LVDM will help the CPV group enter the beverage business and create growth opportunities, including expansion into export markets in the future.
Charoen Pokphand Foods Public Company LimitedCPF acquires 76.57% of LVDM for 336 million baht, expanding into Vietnam's premium beverage market.
