TOKYO, Aug 4 (Reuters) - Mitsubishi ( MSBHF ) has made an
offer to increase its stake in Thai Union Group Public Company
Limited, a major canned tuna producer, to 20% from
6.19%, both companies said on Monday, as the Japanese trading
house expands further into the food business.
Mitsubishi ( MSBHF ) was seeking to buy 532,273,639 shares in the
company, or 13.81%, according to the Thai company. Based on the
offering price of 12.5 Thai baht ($0.3853) per share disclosed
by Mitsubishi ( MSBHF ), the deal is worth around $205 million.
Last month, Mitsubishi ( MSBHF ) said it planned to spend around $1
billion to expand in salmon farming by acquiring additional
businesses in Norway and Canada, part of a push into the food
business, with a focus on protein.
Higher profits in the diversified food businesses run by
Japanese trading houses offset weaker performances at their
commodities units, drawing attention from Warren Buffett's
Berkshire Hathaway ( BRK/A ) to take minority stakes in Japan's
top five trading houses, including Mitsubishi ( MSBHF ).
($1 = 32.4400 baht)
(Reporting by Katya Golubkova; Editing by Lincoln Feast.)