JAPAN: Snow Brand to divest imported food additives operations
Snow Brand Foods (SBF), once Japan's sixth largest meat processor and now a scandal tainted unit awaiting liquidation next month, revealed plans earlier today [Friday] to sell its imported food additives business. The firm has lined up Japanese trading house Nissho Iwai Corp as a buyer and a spokesman from Nissho revealed that the deal is worth an estimated ¥1bn to ¥2bn (US$76m to US$152m). The transaction will take place on 31 March.
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