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Del Monte Pacific ( (SG:D03) ) has issued an update.
Del Monte Pacific Limited has clarified that its indirect U.S. subsidiary, Del Monte Foods, Inc., which is undergoing Chapter 11 proceedings, has completed a court-supervised auction that has yielded proposed transactions still subject to documentation, conditions and approval by the U.S. Bankruptcy Court. The parent company emphasized that it is not a debtor in the Chapter 11 process, has not participated in any transactions arising from the auction, and does not control the outcome, while continuing to monitor developments and evaluate their potential impact at the parent-company level in light of its prior deconsolidation of the U.S. food business and existing provisions on related exposures.
The most recent analyst rating on (SG:D03) stock is a Hold with a S$0.10 price target. To see the full list of analyst forecasts on Del Monte Pacific stock, see the SG:D03 Stock Forecast page.
More about Del Monte Pacific
Del Monte Pacific Limited is a multinational food and beverage company, best known for its canned fruits, vegetables, and related processed food products, with a significant presence in the U.S. through its indirect subsidiary Del Monte Foods, Inc. The group focuses on branded and private-label packaged foods in key global markets, although it has previously deconsolidated its U.S. food business for accounting purposes and recognized related provisions on investments, advances, and receivables.
Average Trading Volume: 445,438
Technical Sentiment Signal: Sell
Current Market Cap: S$184.7M
Learn more about D03 stock on TipRanks’ Stock Analysis page.