Bursastock
PETALING JAYA: BCM Alliance Bhd
is diversifying into the lucrative dairy business segment via the proposed acquisition of a controlling stake in Malaysia’s main distributor of China’s largest dairy player.
A filing with Bursa Malaysia showed that BCM has signed a letter of intent for the proposed subscription of new ordinary shares and proposed acquisition of existing shares, representing 25% and 26% of the enlarged equity interest in Foodict Maker Sdn Bhd.
Upon completion of the proposed exercise, BCM will effectively control a 51% stake in Foodict and is expected to benefit from the domestic dairy segment’s strong demand growth, moving forward.
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