Australian malt producer United Malt Group Ltd said on Monday it had agreed to a A$1.5 billion ($999 million) takeover offer from Malteries Soufflet, a branch of French agribusiness InVivo.
The logo of InVivo is seen at the company's headquarters in Paris, France, December 9, 2021. REUTERS/Sarah Meyssonnier/File Photosaid on Monday it had agreed to a A$1.5 billion takeover offer from Malteries Soufflet, a branch of French agribusiness InVivo.and double the size of its malt business three years earlier than planned, InVivo Chief Executive Thierry Blandinieres told Reuters when the offer was first announced in March.
Australia has seen increased dealmaking this year, largely in contrast to the broader Asian region where the pressure of high interest rates has led to subdued mergers and acquisitions activity. Malteries Soufflet - one of the world's biggest malt producers, operates 28 malt houses across Europe, Latin America, Asia and Africa.
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