April 26, 2017 / 2:52 PM / 3 months ago

BRIEF-First Pacific Co says unit entered into sale and purchase agreement

1 Min Read

April 26 (Reuters) - First Pacific Co Ltd:

* Entered into a sale and purchase agreement

* Deal for aggregate consideration of S$235.5 million

* CMZ BVI has agreed to purchase, 196.2 million CMZ shares, representing about 29.94pct of issued share capital of CMZ, at S$1.20 per CMZ share

* Group is not expected to recognize any significant gain or loss from CMZ share sale

* Group will use sale proceeds from CMZ share sale for repaying loan borrowed to finance acquisition of CMZ

* Says consideration payable by CMZ BVI to Indofood is to be settled in cash

* Co's unit Indofood to sell China Minzhong Food Corporation shares Source text for Eikon: Further company coverage:

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