Aboitiz family secures $338M loan to fund Gold Coin purchase
A wholly-owned unit of Aboitiz Equity Ventures Inc. obtained a $338 million loan from four foreign banks to fund its acquisition of Singapore anjimal feed maker Gold Coin Management Holdings Ltd.
In a regulatory filing, AEV said AEV International Pte Ltd. inked the credit facility with DBS Bank Ltd., Mizuho Bank, MUFG Bank, and Standard Chartered Bank.
The loan will be used to finance the acquisition of 75 percent of Gold Coin. one of the largest animal feed producers in the Asia Pacific, operating across 11 countries, from the wealthy Zuellig family of Switzerland.
AEV said the acquisition would quadruple its overall feeds production capacity with the addition of three million metric tons of feeds.
With a manpower of over 3,000 people, Gold Coin has 21 production facilities, offering products for both the livestock and the aqua industries, including young animals and hatchery feed, premixes, concentrates and compound feed.
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