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
Source: Reuters
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Lesnard, who previously worked at Nike, The North Face and Sephora, has a mission to “grow and sustain GODIVA’s position and expertise in the premium chocolate category, leveraging ongoing support from pladis to take GODIVA and its legendary chocolate to new heights.”
