Coffee company Jacobs Douwe Egberts BV (JDE) has agreed to buy Singapore-listed instant food and beverage firm Super Group Ltd for S$1.45 billion ($1.05 billion), according to stock exchange filings on Thursday.
JDE is offering S$1.30 per Super share, a premium of 34 percent to the stock’s last traded price of S$0.97 before trading was halted on Oct. 31. JDE, formed by a joint venture between Mondelez International Inc and D.E Master Blenders, intends to delist the Singapore-headquartered company.
Shareholders with a 60 percent stake in Super’s total issued share capital have agreed to tender all of their shares in acceptance of the offer. Super’s products include instant coffee, instant cereals and instant tea mixes.
Evercore Asia (Singapore) Pte Ltd is the financial adviser to Super.
($1 = 1.3847 Singapore dollars)
By Aradhana Aravindan
The company expects to eliminate 1.2 billion tons carbon dioxide equivalent of methane emissions by the end of the decade. The company says that it already reduced its methane emissions by around 14% between 2018 and 2020.
The “first-of-its-kind” pilot project will develop and demonstrate an affordable modular bioprocessing system to produce biodegradable bioplastics from food waste diverted from landfills. The three-year grant will test the scalability and feasibility of the conversion on a national and global scale.
Arkeon is allying with specialty mineral giant ICL to support the scaling of its fermentation bioprocess that converts CO2 into the 20 proteinogenic essential amino acids needed in human nutrition. The process, hailed as carbon negative, is based on the use of archaea, a group of microorganisms that naturally feeds off the greenhouse gas.