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2c special dividend ??....Merry Christmas .
MakeChanges ( Date: 21-Dec-2021 12:53) Posted:
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HALT !
Starship ( Date: 02-Dec-2021 17:30) Posted:
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JBS Australia Pty Limited - Rivalea Holdings Pty Ltd and Oxdale Dairy Enterprise Pty Ltd
Status:
Completed
Outcome:
Not opposed on 2 December 2021
Industry:
Slaughtering and processing of pork
Commenced:
25 June 2021
Total review days:
113 days
Acquirer(s)
JBS Australia Pty Limited
Target(s)
Rivalea Holdings Pty Ltd and Oxdale Dairy Enterprise Pty Ltd
https://www.accc.gov.au/public-registers/mergers-registers/public-informal-merger-reviews/jbs-australia-pty-limited-rivalea-holdings-pty-ltd-and-oxdale-dairy-enterprise-pty-ltd
Status:
Completed
Outcome:
Not opposed on 2 December 2021
Industry:
Slaughtering and processing of pork
Commenced:
25 June 2021
Total review days:
113 days
Acquirer(s)
JBS Australia Pty Limited
Target(s)
Rivalea Holdings Pty Ltd and Oxdale Dairy Enterprise Pty Ltd
https://www.accc.gov.au/public-registers/mergers-registers/public-informal-merger-reviews/jbs-australia-pty-limited-rivalea-holdings-pty-ltd-and-oxdale-dairy-enterprise-pty-ltd
Wow, a Super Rare Super Blue Moon Event !!!!!!
FATABA ( Date: 02-Dec-2021 09:13) Posted:
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Shld be update on Australia meat plant sale .....special dividend of 2c
jpower2015 ( Date: 02-Dec-2021 08:52) Posted:
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Announcement Title
Request for Trading Halt
Date & Time of Broadcast
02-Dec-2021 07:35:34
Status
New
Announcement Sub Title
Request for Trading Halt
Announcement Reference
SG211202OTHRPC5Y
Submitted By (Co./ Ind. Name)
Serene Yeo
Designation
Company Secretary
Effective Date and Time of the event
With Immediate Effect
Reasons for Trading Halt
Pending release of announcement
Request for Trading Halt
Date & Time of Broadcast
02-Dec-2021 07:35:34
Status
New
Announcement Sub Title
Request for Trading Halt
Announcement Reference
SG211202OTHRPC5Y
Submitted By (Co./ Ind. Name)
Serene Yeo
Designation
Company Secretary
Effective Date and Time of the event
With Immediate Effect
Reasons for Trading Halt
Pending release of announcement
In fact I will be rather glad that the deal will not go through, as PDD is profitable and will be even more so with global meat shortage.
It is really a big waste to just give away a profitable business to another country, hope QAF will explore with TEMASEK
It is really a big waste to just give away a profitable business to another country, hope QAF will explore with TEMASEK
Australian competition watchdog flags concerns over QAF' s proposed Rivalea sale
Australia' s competition regulator, the Australian Competition & Consumer Commission (ACCC), has raised concerns over Brazilian animal protein giant JBS' proposed acquisition of pork-processing plant Rivalea Holdings, which is a subsidiary of Singapore-listed food company QAF.QAF had in June agreed to sell the entire issued share capital of its Australian businesses Rivalea and Oxdale Dairy Enterprise to Industry Park, which is part of JBS. The estimated price was A$107.9 million (S$106 million), while the enterprise value of the entities that were to be sold stood at A$175 million.
QAF had then said it wanted to focus on its bakery and distribution segments and warehousing in its core markets of Singapore, Malaysia and the Philippines. The company said Rivalea had " reached the necessary scale" for a new owner with a strong focus on the animal-protein segment, to bring it to its next growth phase.
In a statement on Sept 16, ACCC identified certain issues that could arise if the transaction goes through successfully.
For instance, it said, JBS would control three of the seven export-accredited abattoirs in Australia, and would have a significant proportion of pork-processing capacity.
ACCC expressed concerns that JBS could have the incentive to leverage its increased upstream presence to either directly or indirectly raise the costs of its downstream smallgoods or for its wholesaling rivals by frustrating or foreclosing their access to fresh pork.
The difference in this case is that the ACCC results date ends on 1 day after the stop date of the SPA agreement. So any deal that can take place moving forward requires an extension to the original agreement.
It' s evident that QAF management has thought through the sale process and intended for the funds to expand the bakery business. The PPD also took a massive write down to structure its accounts for the sale last quarter.
So if you ask me, this uncertainty is does not bode well.
It' s evident that QAF management has thought through the sale process and intended for the funds to expand the bakery business. The PPD also took a massive write down to structure its accounts for the sale last quarter.
So if you ask me, this uncertainty is does not bode well.
Lol it is really nothing new .......Aus regulations and ruling are always tough n long....but it seem this case is a matter of time then a case of NO
Anyway, all dates are set ...so let see how it meet this need ( which is not difificult /like promise of access to 3rd party kill )
2c dividend potential is still there .
LOL and in the worst case situation ....this investment is still PROFITABLE and contributing $
Dyodd
Anyway, all dates are set ...so let see how it meet this need ( which is not difificult /like promise of access to 3rd party kill )
2c dividend potential is still there .
LOL and in the worst case situation ....this investment is still PROFITABLE and contributing $
Dyodd
Starship ( Date: 16-Sep-2021 10:39) Posted:
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16/09/2021 ACCC published a Statement of Issues outlining preliminary competition concerns.
30/09/2021 Closing date for submissions relating to Statement of Issues.
09/12/2021 Proposed date for announcement of ACCC&rsquo s decision.
Issues that may raise concerns
&bull Frustration or foreclosure of access to third party service kills at Diamond Valley Pork (DVP) DVP is an important abattoir that offers third party service kills. Post-acquisition, JBS will be the majority owner of DVP. For pig producers in proximity to DVP, the ACCC understands that there are few suitable alternatives. The ACCC is concerned that JBS, due to its downstream businesses, may have a greater incentive (than the current majority owner, Rivalea), to frustrate or foreclose access to third party service kills at DVP. JBS may do this by profitably increasing the price of, or offering less favourable terms, for service kills. The ACCC is considering how JBS&rsquo incentives may differ from those of Rivalea and in particular, the extent to which this may impact service kill customers who supply pork to JBS&rsquo downstream rivals. JBS&rsquo incentives to foreclose may also be increased if it were to increase its use of domestic pork, as is its stated intention, which could make DVP less reliant on third party customers.
&bull Frustration or foreclosure of access to fresh pork for smallgoods producers and/or pork wholesalers JBS, through its Primo business, is the largest smallgoods producer in Australia. It is also a wholesaler of fresh pork. Post-acquisition, JBS would control three of the seven export accredited abattoirs in Australia (and three out of four in south-eastern Australia) along with a significant proportion of pork processing capacity. The ACCC is concerned that JBS may have the incentive to leverage its increased upstream presence (particularly through its increased ownership of export accredited abattoirs) to either directly or indirectly raise the costs of its downstream smallgoods or wholesaling rivals by frustrating or foreclosing their access to a key input (fresh pork).
Issues unlikely to raise concerns
&bull Lessening of competition due to direct overlap The ACCC has considered the direct overlap between JBS and Rivalea, including the extent to which they compete in the acquisition of slaughter weight pigs, supply of service kills, supply of pork processing and the supply of fresh pork. The ACCC&rsquo s preliminary view is that JBS and Rivalea do not compete to a significant extent in the acquisition of slaughter weight pigs, supply of service kills and supply of pork processing due to the location of their respective abattoirs. In relation to the supply of fresh pork at the wholesale or retail level, the ACCC&rsquo s preliminary view is that there are a range of other suppliers, so it is unlikely there will be a substantial lessening of competition due to loss of competition between JBS and Rivalea.
&bull Bundling of other meats/meat products As JBS does not supply any &ldquo must have&rdquo products which do not have close alternatives, the ACCC considers that JBS is unlikely to have sufficient bargaining power to demand customers acquire products in bundles post-acquisition.
30/09/2021 Closing date for submissions relating to Statement of Issues.
09/12/2021 Proposed date for announcement of ACCC&rsquo s decision.
Issues that may raise concerns
&bull Frustration or foreclosure of access to third party service kills at Diamond Valley Pork (DVP) DVP is an important abattoir that offers third party service kills. Post-acquisition, JBS will be the majority owner of DVP. For pig producers in proximity to DVP, the ACCC understands that there are few suitable alternatives. The ACCC is concerned that JBS, due to its downstream businesses, may have a greater incentive (than the current majority owner, Rivalea), to frustrate or foreclose access to third party service kills at DVP. JBS may do this by profitably increasing the price of, or offering less favourable terms, for service kills. The ACCC is considering how JBS&rsquo incentives may differ from those of Rivalea and in particular, the extent to which this may impact service kill customers who supply pork to JBS&rsquo downstream rivals. JBS&rsquo incentives to foreclose may also be increased if it were to increase its use of domestic pork, as is its stated intention, which could make DVP less reliant on third party customers.
&bull Frustration or foreclosure of access to fresh pork for smallgoods producers and/or pork wholesalers JBS, through its Primo business, is the largest smallgoods producer in Australia. It is also a wholesaler of fresh pork. Post-acquisition, JBS would control three of the seven export accredited abattoirs in Australia (and three out of four in south-eastern Australia) along with a significant proportion of pork processing capacity. The ACCC is concerned that JBS may have the incentive to leverage its increased upstream presence (particularly through its increased ownership of export accredited abattoirs) to either directly or indirectly raise the costs of its downstream smallgoods or wholesaling rivals by frustrating or foreclosing their access to a key input (fresh pork).
Issues unlikely to raise concerns
&bull Lessening of competition due to direct overlap The ACCC has considered the direct overlap between JBS and Rivalea, including the extent to which they compete in the acquisition of slaughter weight pigs, supply of service kills, supply of pork processing and the supply of fresh pork. The ACCC&rsquo s preliminary view is that JBS and Rivalea do not compete to a significant extent in the acquisition of slaughter weight pigs, supply of service kills and supply of pork processing due to the location of their respective abattoirs. In relation to the supply of fresh pork at the wholesale or retail level, the ACCC&rsquo s preliminary view is that there are a range of other suppliers, so it is unlikely there will be a substantial lessening of competition due to loss of competition between JBS and Rivalea.
&bull Bundling of other meats/meat products As JBS does not supply any &ldquo must have&rdquo products which do not have close alternatives, the ACCC considers that JBS is unlikely to have sufficient bargaining power to demand customers acquire products in bundles post-acquisition.
PandaB ( Date: 16-Sep-2021 09:07) Posted:
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New timeline, looks like there are some issues that have been raise with regards to the acquistion and they are seeking public information.
Decision to be made by 9 Dec 21.
https://www.accc.gov.au/public-registers/mergers-registers/public-informal-merger-reviews/jbs-australia-pty-limited-rivalea-holdings-pty-ltd-and-oxdale-dairy-enterprise-pty-ltd
Decision to be made by 9 Dec 21.
https://www.accc.gov.au/public-registers/mergers-registers/public-informal-merger-reviews/jbs-australia-pty-limited-rivalea-holdings-pty-ltd-and-oxdale-dairy-enterprise-pty-ltd
Rivalea sale confirmed?
Anything heard?
Looks like trading halt..
Looks like trading halt..
Hope this is just a formal process .....if NOT QAF pre announcement on the 2x dividend sound very confident it will past thru.
ANyway , Australia regulation on this meat industry is very stigent ,,,,,,QAF exit is expect for sometime and not easy to find a buyer w much
control n regulations.
Just hope its done n move on w their expansion in the bread business full speed
Dyodd
ANyway , Australia regulation on this meat industry is very stigent ,,,,,,QAF exit is expect for sometime and not easy to find a buyer w much
control n regulations.
Just hope its done n move on w their expansion in the bread business full speed
Dyodd
Starship ( Date: 12-Aug-2021 18:31) Posted:
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Yes, indeed is a pity to exit MEAT business when the world are short of it
The price of Australia fresh meat in SG supermarket has risen higher every month !!!
QAF should hold on to this cash cow after so many years of hard toil & heart ache, will definitely enjoy the fruit of the labour soon.
Pity, i am vested for at least 10 years
The price of Australia fresh meat in SG supermarket has risen higher every month !!!
QAF should hold on to this cash cow after so many years of hard toil & heart ache, will definitely enjoy the fruit of the labour soon.
Pity, i am vested for at least 10 years
16/09/2021 Proposed date for announcement of ACCC&rsquo s findings (as outlined in the Informal Merger Review Process Guidelines,
this may be a final decision or release of a Statement of Issues).
this may be a final decision or release of a Statement of Issues).
PandaB ( Date: 12-Aug-2021 18:22) Posted:
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Well, the deal is actually not fully completed. The Australian Competition and Commission Committee is holding a public inquiry on JBS proposed Rivalea acquistion. It is still pending clearance.
https://www.stockandland.com.au/story/7315853/accc-inquiry-into-rivalea-acquisition/
https://www.accc.gov.au/public-registers/mergers-registers/public-informal-merger-reviews/jbs-australia-pty-limited-rivalea-holdings-pty-ltd-and-oxdale-dairy-enterprise-pty-ltd
The ACCC closure date was last month, so far, no updates.
Yes, I follow QAF as I have been vested for quite a while. The PPD business cycle has fluctuated quite a fair bit in the last few years due to the drought and grain feed prices. It is a pity that following so much investments, they have decided to sell it.
https://www.stockandland.com.au/story/7315853/accc-inquiry-into-rivalea-acquisition/
https://www.accc.gov.au/public-registers/mergers-registers/public-informal-merger-reviews/jbs-australia-pty-limited-rivalea-holdings-pty-ltd-and-oxdale-dairy-enterprise-pty-ltd
The ACCC closure date was last month, so far, no updates.
Yes, I follow QAF as I have been vested for quite a while. The PPD business cycle has fluctuated quite a fair bit in the last few years due to the drought and grain feed prices. It is a pity that following so much investments, they have decided to sell it.
The Group is in the process of adding a new line at the Gardenia Malaysia plant in Bukit Kemuning (approximately S$26 million). Plans to expand production facilities at North Luzon in the Philippines are also being reviewed (approximately S$40 million). An additional bread line at the Johor plant (approximately S$30 million) to supply both Malaysia and Singapore markets, and an upgrade to the bread production lines in Singapore (approximately S$20 million) are currently being studied. Total expected capital expenditure for these projects is approximately S$116 million. This is in addition to the significant investments into the Bakery business in Philippines (approximately S$80 million) and Malaysia (approximately S$130 million) that had been made in recent years, as the Group seeks to expand its bakery production capabilities. The disposal of the Primary Production business would enable the Group to focus on and support the growth of the Bakery and Distribution and Warehousing businesses and enable the Group to invest in new business opportunities related to these businesses. Further information will be provided in the Company&rsquo s Circular to shareholders on the Proposed Disposal (see Section 7 below).
6. USE OF PROCEEDS INCLUDING SPECIAL DIVIDEND 5 Based on the Indicative Purchase Price and including proceeds from the settlement of the Shareholder Loan, the net proceeds from the Proposed Disposal after deducting, amongst others, the estimated expenses of the sale process and the Special Dividend (as defined below), is expected to amount to approximately S$134.7 million. As previously announced by the Company, the Company intends, after the Completion of the Proposed Disposal, to pay a special dividend of S$0.02 per share (&ldquo Special Dividend&rdquo ). Based on 575,268,440 issued ordinary shares in the capital of the Company (&ldquo Shares&rdquo ) as at the date of this Announcement, the Company proposes to set aside a total of approximately S$11.5 million for the Special Dividend. Subject to the Completion of the Proposed Disposal, the Company will announce the record date for the Special Dividend in due course. The net proceeds will enable the Group to focus on and support the growth of the Bakery and Distribution and Warehousing businesses and enable the Group to invest in new business opportunities related to these businesses
6. USE OF PROCEEDS INCLUDING SPECIAL DIVIDEND 5 Based on the Indicative Purchase Price and including proceeds from the settlement of the Shareholder Loan, the net proceeds from the Proposed Disposal after deducting, amongst others, the estimated expenses of the sale process and the Special Dividend (as defined below), is expected to amount to approximately S$134.7 million. As previously announced by the Company, the Company intends, after the Completion of the Proposed Disposal, to pay a special dividend of S$0.02 per share (&ldquo Special Dividend&rdquo ). Based on 575,268,440 issued ordinary shares in the capital of the Company (&ldquo Shares&rdquo ) as at the date of this Announcement, the Company proposes to set aside a total of approximately S$11.5 million for the Special Dividend. Subject to the Completion of the Proposed Disposal, the Company will announce the record date for the Special Dividend in due course. The net proceeds will enable the Group to focus on and support the growth of the Bakery and Distribution and Warehousing businesses and enable the Group to invest in new business opportunities related to these businesses
FATABA ( Date: 12-Aug-2021 13:07) Posted:
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