TUF to Raise $400 Million in Share Issue for Bumble Bee Buy, Holds to $5 Billion 2015 Sales Target
SEAFOODNEWS.COM [Reuters] - By Khettiya Jittapong - February 27, 2015 -
BANGKOK, Thai Union Frozen Products Pcl (TUF) said today it aims to raise $400 million by offering new shares to help finance acquisitions, including the purchase of U.S. competitor Bumble Bee Seafoods.
Thai Union, the world's largest producer of canned tuna, plans to move quickly to cut debt after making its largest-ever acquisition with the $1.5 billion move for Bumble Bee in December.
Earlier, the company announced a weaker-than-expected 14 percent fall in fourth-quarter net profit and reiterated its $5 billion sales target for 2015...
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