Ingredion Inks Definitive Agreement To Divest Business In South Korea To An Affiliate Of Sajo Group; No Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
Ingredion has signed a definitive agreement to sell its South Korean business to an affiliate of Sajo Group. The terms of the deal were not disclosed. The expected closure of the transaction is in the first quarter of 2024, pending regulatory approvals and other customary closing conditions.
November 13, 2023 | 11:11 am
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Ingredion is divesting its South Korean business to a Sajo Group affiliate, with the transaction expected to close in Q1 2024. The financial terms have not been disclosed.
The divestiture of Ingredion's South Korean business could streamline operations and focus on more profitable areas, but without financial terms, the impact on the stock is uncertain. The deal's closure is also a year away, and subject to regulatory approvals, which adds to the uncertainty. Therefore, the short-term impact on INGR's stock price is likely neutral.
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