# South Korea’s Daesang retracts bid to acquire China’s Chengfu Food - KED Global

> 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.

- Date: 2024-03-08 · published 2024-03-08T12:00:00.000Z
- Category: market · region China · magnitude low
- Page: https://feedsoft.ai/events/31540-south-korea-s-daesang-retracts-bid-to-acquire-china-s-chengfu-food-ked-global
- Commodities: [Lysine](https://feedsoft.ai/c/LYSINE.md)

## Why it matters

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.

## Read by commodity

- LYSINE: bearish ▼

## Sources

- kedglobal.com: https://www.kedglobal.com/mergers-acquisitions/newsView/ked202403080016

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.