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BBC officially becomes an affiliate company of PAN Food

[Hanoi, February 4nd] - Pan Pacific Holding (PAN) announces today that through subsidiaries, PAN has reached affiliate ownership in Bibica (BBC) with 24.58% of shares outstanding (including the holding of Aquatex Ben Tre (ABT): 3.45% and PAN Food: 21.13%).

The transaction was concluded in early February with ABT decreasing its holdings from 8.43% to 3.45% and PAN Food increasing its holdings from 0% to 21.13%.

With this transaction, Bibica becomes an affiliate company of PAN Food from January 30th, 2015, making a total of two subsidiaries Aquatex Ben Tre (ABT) and National Seed Company (NSC) and two affiliate companies Lafooco (LAF) and Bibica (BBC).
The Bibica purchase contributes to PAN’s strategy to establish its strong foothold in fast moving consumer goods (FMCGs) category.

The objective of this acquisition is to continue executing of PAN’s vision set out from AGM 2013 – to become the leading agriculture and food company in Vietnam and in South East Asia.

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