J-Oil Mills, Inc. completed the acquisition of acquire 51% stake in Premium Fats Sdn Bhd and 20% stake in Premium Vegetable Oils Sdn Bhd from Premium Nutrients Ltd.
December 01, 2019
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J-Oil Mills, Inc. (TSE:2613) entered into an business alliance agreement to acquire 51% stake in Premium Fats Sdn Bhd and 20% stake in Premium Vegetable Oils Sdn Bhd from Premium Nutrients (pte) Ltd for $12 million on October 9, 2019. As a part of transaction J-Oil Mills will acquire 51% stake in Premium Fats for $3.2 million and 20% stake in Premium Vegetable for $8.8 million. Upon completion, Premium Fats Sdn Bhd will become consolidated subsidiary and Premium Vegetable Oils Sdn Bhd will become the Equity Method affiliate of J-Oil Mills, Inc. For the period ended march 31, 2019, Premium Fats Sdn and Premium Vegetable Oils reported sales of $1.6 million. The stock transfer execution date is planned to be early of November 2019.
J-Oil Mills, Inc. (TSE:2613) completed the acquisition of acquire 51% stake in Premium Fats Sdn Bhd and 20% stake in Premium Vegetable Oils Sdn Bhd from Premium Nutrients (pte) Ltd on December 2, 2019.
J-Oil Mills Inc is a Japan-based company mainly engaged in the manufacture and sale of edible oils and fats. The Fats and Oils segment mainly manufactures, processes and sells fats and oils and meals. The Processed Fats and Oils segment manufactures, processes, and sells margarine and powdered fats and oils. The Food and Fine Products segment mainly manufactures, processes and sells starch and chemicals. The Company is also involved in the provision of services include real estate leasing.
J-Oil Mills, Inc. completed the acquisition of acquire 51% stake in Premium Fats Sdn Bhd and 20% stake in Premium Vegetable Oils Sdn Bhd from Premium Nutrients Ltd.