Japanese dairy firm Snow Brand Milk Products is reportedly poised to reacquire Marubeni’s 7.5% stake in food wholesaler Yukijirushi Access.
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Snow Bran Milk Products is to pay around ¥2.9bn (US$24.7m) to increase its stake in the wholesaler to around 17.7%, reported the Nihon Keizai Shimbun. Itochu Corp is Yukijirushi Access’ leading shareholder, with a 25% stake.
Snow Brand reportedly plans to sell the shares to other food companies. Snow Brand, which is in the midst of a recovery after a series of scandals, had sold its shares in Yukijirushi Access in order to raise capital for restructuring programmes.
