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South Korea's Daesang has revised its plan to acquire a controlling stake in China's Heilongjiang Chengfu Food Group, cutting the planned purchase from up to 51% to 20%. The company cited the sluggishness of the lysine business in China.
The filing was made with Korea's Financial Supervisory Service.
The retreat signals weak lysine demand and margins in China, which is consistent with soft lysine pricing. The deal change itself has little direct effect on feed supply.
kedglobal.comHyeong-Ju OhMar 8, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
