Bloomberg News

Shuanghui ‘Not Aware’ of Plan to Tap Stock Market After Takeover

July 16, 2013

Shuanghui International Holdings Ltd., the Chinese meat producer that agreed in May to buy Smithfield Foods Inc. (SFD:US) for $4.7 billion, said it isn’t aware of any plans for the combined company to tap the stock market.

Nor will Shuanghui speculate about any such plan, Chuck Dohrenwend, a company spokesman who works for Abernathy MacGregor Group in New York, said today in an e-mailed statement.

Shuanghui plans an initial public offering in Hong Kong valued at about $4 billion after the takeover, Reuters reported today, citing unidentified people familiar with the matter.

A group of investors that includes Goldman Sachs Group Inc. and Temasek Holdings Pte., Singapore’s sovereign wealth fund, holds about half the shares of Shuanghui. The company announced its $34-a-share offer for Smithfield on May 29.

The acquisition of the Smithfield, Virginia-based company, which is the world’s largest hog and pork producer, would be the largest U.S. takeover by a Chinese company.

To contact the reporter on this story: Shruti Date Singh in Chicago at ssingh28@bloomberg.net

To contact the editor responsible for this story: Simon Casey at scasey4@bloomberg.net


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