Shengnong Development to Acquire Full Ownership of Poultry Firm Sun Valley Food
Shengnong Development, a Chinese poultry producer, has announced plans to acquire an additional 54% equity stake in Anhui Sun Valley Food Technology (Group) Co., Ltd. for CNY 1.1 billion (approximately USD 149.9 million).
Following the completion of the transaction, Shengnong Development will hold 100% ownership of Sun Valley.
Sun Valley and its three subsidiaries, Sun Valley Food (Anhui) Co., Ltd., Sun Valley Food (Chuzhou) Co., Ltd.,and Sun Valley Food (Mingguang) Co., Ltd., operate a fully integrated poultry supply chain.
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