CPF Investment Limited has completed the privatisation of C.P. Pokphand Co. Ltd (CPP), a Hong Kong listed company, by way of a scheme of arrangement for a total consideration of HK$6,991.27 million (approximately US$900 million). Following the delisting from The Stock Exchange of Hong Kong, completed on 18 January, CPF Investment now owns 75% of issued shares, while ITOCHU, an existing shareholder, retains its 25% stake in the company.
Latham & Watkins advised Charoen Pokphand Foods Public Company Limited, the controlling shareholder of CPP and holding company of CPF Investment, on the transaction with a Hong Kong team led by corporate partners Posit Laohaphan and Terris Tang, with associate Bonnie Tse.
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