Daiichi Taihei (00142.HK)It was announced that the subsidiary ICBP has implemented the acquisition of all of PineHill's share capital at a cash price of US$2,998 million (approximately HK$23.4 billion). The average profit guarantee for the two years ending 2021 was no less than 129 million US dollars per year, which is equivalent to 23 times the price-earnings ratio.

PineHill is owned by Chairman Lin Fengsheng and the investment fund ASM Telok Ayer Fund respectively. Its business mainly manufactures and sells instant noodles under the “Indomie” brand in eight countries. It has 12 factories with a production capacity of 10 billion packs. In 2019, the Group had sales of HK$4.2 billion and profit before tax of approximately HK$975 million.

Currently, the company holds a 50.1% interest in Indofood listed on the Indonesia Stock Exchange, and the latter holds about 80.5% of ICBP's interest. (de/d) (Quotation delayed at least 15 minutes. (The end of short selling information is at 16:25 on 2020/5-22.)