France’s InVivo placed bid for Australia’s United Malt -report

PARIS, March 27 (Reuters) – French agrifood group InVivo, which has said it aimed to become the world’s largest producer of beer ingredient malt, has placed a bid for United Malt (UMG.AX) through its branch Malteries Soufflet, the Australian Financial Review reported on Monday.

United Malt’s shares have been suspended on Monday pending an announcement on a change in control of the company.

InVivo which acquired agribusiness peer Soufflet last year had said it aimed to become the world’s top malt producer within five years through external growth. To help finance the acquisition it had sold a minority share of the malt business to several investors including KKR (KKR.N) and Credit Agricole (CAGR.PA).

United Malt Group is an Australia-based commercial maltster, producing bulk malt for brewers, craft brewers, distillers and food companies. The company has processing plants in Canada, the United States, Australia and the United Kingdom.

Reporting by Sybille de La Hamaide and Gus Trompiz; Editing by Richard Chang

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