GAPack (468 HK): Mengniu & Bi Weigh Options On Shandong Xinjufeng's VGO

May 10, 2024

∙ Paid

Back in September 2023, Jardine Matheson Holdings (JM SP) sold its 28.22% stake in Greatview Aseptic Packaging (468 HK) to Shandong Xinjufeng Technology Packaging (301296 CH) (XJF).
Then in November, XJF requisitioned an EGM to spill the board. At the EGM on the 26th January, not one of XJF's five new proposed appointments were successful.
XJF has now made a pre-conditional (various PRC approvals) voluntary general Offer at $2.65/share (best & final), contingent on a 50% acceptance hurdle. Final/special dividends to be added.

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