| Century Pacific Food Inc., the Philippines’ largest canned food company and maker of the Century Tuna brand, is taking in a new investor. In a disclosure to the Philippine Stock Exchange, Century Pacific said its parent firm Century Pacific Group Inc. has received an exchange option notice from Arran Investment Pte Ltd., an affiliate of Singaporean sovereign wealth fund GIC Pte Ltd., following an exchangeable loan agreement entered by the two firms in April last year.
GIC, which was set up in 1981 to manage Singapore’s foreign reserves, is among the world’s largest fund management companies with assets under management of over $100 billion. Under the agreement, Arran provided the Century Pacific Group a P3.38-billion loan in which the former has an option to be repaid instead through shares in the canned food company..............................................Full Article: Source
|