Japanese dairy products group Snow Brand Milk Products is to sell 786,000 shares (1.5%) in its wholesale food subsidiary Yukijirushi Access to instant noodle producer Nissin Food Products.
The deal, reported to be worth ¥581.6m (US$4.8m), is set to be finalised on 26 November. It forms part of Snow Brand’s restructuring plan to recover from its recent poor form.
After the sale, Snow Brand will control a 26.22% stake in Yukijirushi Access.
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