JAPAN: Snow Brands to sell stake in subsidiary to Nissin Food Products
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.
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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