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Del Monte Pacific ( (SG:D03) ) just unveiled an announcement.
Del Monte Pacific Limited announced that it will not provide financial support to its U.S. subsidiary, Del Monte Foods Holding Limited, for settling a litigation, resulting in a transfer of 25% equity to the lenders and a change in board control. This decision may have significant financial implications for Del Monte Pacific, as it involves deconsolidating the subsidiary from its financial statements and assessing potential impairments on its net investment and receivables, with updates to be provided after an audit.
More about Del Monte Pacific
Del Monte Pacific Limited is a company incorporated in the British Virgin Islands, primarily involved in the food industry. It focuses on producing and distributing a wide range of food products, with a significant market presence through its U.S. subsidiary, Del Monte Foods Holding Limited.
Average Trading Volume: 188,636
Technical Sentiment Signal: Sell
Current Market Cap: S$124.4M
Find detailed analytics on D03 stock on TipRanks’ Stock Analysis page.