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Korean company mulls buying Rakhat confectionery plant

24 june 2013, 12:35
0
Rakhat confectionery plant. Photo courtesy of almateka.org
Rakhat confectionery plant. Photo courtesy of almateka.org
Korean company Lotte Confectionery mulls buying Kazakhstan’s biggest confectionery producer Rakhat, Korea IT Times writes.

According to the magazine, the talks are currently underway. Samil PriceWaterHouseCoopers and Kim & Chang were appointed the principal underwriter and legal advisor, respectively, for the takeover. "They are negotiating the price and other terms of the acquisition and the deal will be closed by the end of July,” an investment banking source said.

Rakhat company was established in 1942. It produces 250 types of confectionery, including chocolate, sweets, cookies and waffles.

Rakhat is listed at the Kazakhstan Stock Exchange KASE. The market price of the company’s stock stands at 18 billion tenge ($119 million).

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