Business

Japanese firm acquires Cholimex stake

Japanese company Nichirei Foods has become a strategic shareholder in the HCM Stock Exchange listed firm Cholimex (CLC) after paying 6.25 million USD for a 19-percent stake in the company, which mostly makes sauces and spices.
Japanese company Nichirei Foods has become a strategic shareholder inthe HCM Stock Exchange listed firm Cholimex (CLC) after paying 6.25million USD for a 19-percent stake in the company, which mostly makessauces and spices.

The 80 billion VND (3.8 million USD)company last year earned a net profit of almost 35 billion VND (1.6million USD), surpassing its annual target by 21 percent. Shareholderswill receive a 20 percent cash dividend for 2011.

Atthe company's annual meeting on April 20, shareholders approved a targetof 47 billion VND (2.24 million USD) in pre-tax profits this year.-VNA
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