https://www.scmp.com/rss/305983/feed Shuanghui Group (it’s known as Shineway Group in English-speaking countries) is a privately owned meat processing company which is the largest meat producer in China. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Smithfield Foods, a US unit of China’s biggest pork company, has reopened its processing plant after President Donald Trump ordered the US meatpacking industry to stay open despite an earlier coronavirus outbreak in such facilities across America. The plant in Sioux Falls, South Dakota resumed operations in stages from Thursday after shutting down more than three weeks ago, and aims to be fully operational by late May, Smithfield said in a statement. Smithfield is the largest pork producer in... https://www.scmp.com/business/companies/article/3083392/wh-groups-us-pork-processing-plant-reopen-stages-amid?utm_source=rss_feed https://www.scmp.com/business/companies/article/3083392/wh-groups-us-pork-processing-plant-reopen-stages-amid?utm_source=rss_feed Thu, 07 May 2020 15:27:19 +0000 China’s WH Group, the world’s largest pork producer and owner of Smithfield Foods of Virginia, is adopting a two-prong strategy to survive the escalating trade war between the world’s two largest economies. The company will import more meat from Europe and South America to satisfy China’s demand in the largest pork-consuming nation while domestic hog herds had been culled by an outbreak of the African swine fever. It will also broaden Smithfield’s export markets to get around China’s tit-for-tat... https://www.scmp.com/business/companies/article/3022643/worlds-largest-pork-producer-wh-group-between-us-and-china-finds?utm_source=rss_feed https://www.scmp.com/business/companies/article/3022643/worlds-largest-pork-producer-wh-group-between-us-and-china-finds?utm_source=rss_feed Tue, 13 Aug 2019 13:00:40 +0000 WH Group will set its sights on a new round of sizeable acquisitions by the end of next year as it aims to become the world’s largest packaged meat company. “We are already the largest pork packaged meat producer in the world, and we aim to become the leader in other meat markets,” said Luis Chein, director of WH Group. “We will consider bigger scale acquisitions when our debt level drops further.” Chein said the company’s debts will have dropped to a more comfortable level by the end of... https://www.scmp.com/business/companies/article/2047719/chinese-pork-giant-wh-group-will-eye-major-acquisitions-end-2017?utm_source=rss_feed https://www.scmp.com/business/companies/article/2047719/chinese-pork-giant-wh-group-will-eye-major-acquisitions-end-2017?utm_source=rss_feed Sun, 20 Nov 2016 11:35:24 +0000 Mainland Chinese companies have again set the pace for the most deals placed under national security review by the United States government as many of them, especially technology firms, are now more confident to submit voluntarily amid growing confidence in the US legal process. “Filing a notice with Committee on Foreign Investment in the United States (CFIUS), technically, is a voluntary process. But it should be treated as obligatory for sensitive transactions, such as those involving critical... https://www.scmp.com/business/companies/article/1727626/chinese-tech-firms-more-confident-facing-us-national-security?utm_source=rss_feed https://www.scmp.com/business/companies/article/1727626/chinese-tech-firms-more-confident-facing-us-national-security?utm_source=rss_feed Mon, 02 Mar 2015 08:00:45 +0000 Sino-US pork producer WH Group's on-off Hong Kong offering could come back to the market, but only if the firm and its lead investment bank can agree on terms which could see a new deal priced at a 20 per cent discounted valuation to April's original failed US$6 billion offer. Two fund managers told the South China Morning Post that US investment bank Morgan Stanley had contacted them to gauge interest in a deal valuing WH shares as low as 12 times estimated 2014 earnings, compared to the 15-21... https://www.scmp.com/business/china-business/article/1539488/fund-sources-say-morgan-stanley-eyes-wh-group-ipo-relaunch?utm_source=rss_feed https://www.scmp.com/business/china-business/article/1539488/fund-sources-say-morgan-stanley-eyes-wh-group-ipo-relaunch?utm_source=rss_feed Tue, 24 Jun 2014 05:15:00 +0000 The failure of top mainland pork producer Shuanghui's US$6 billion initial public offering - once slated to be Asia's biggest this year - offers at least two lessons - never overestimate the power of investment banks and never just go for big names. Despite having a record 29 investment banks to help its listing in Hong Kong, including almost every big name that can be found on Wall Street, WH Group - previously known as Shuanghui - was initially forced to cut the size of its share offering... https://www.scmp.com/business/money/markets-investing/article/1504386/big-name-banks-no-guarantee-ipo-success?utm_source=rss_feed https://www.scmp.com/business/money/markets-investing/article/1504386/big-name-banks-no-guarantee-ipo-success?utm_source=rss_feed Sun, 04 May 2014 21:45:00 +0000 On the face of it, an initial public offering (IPO) for WH Group, the world's biggest pork company, should have been an easy sell. China has huge and growing demand for pork, and WH, created when China's largest meat processing firm, Shuanghui International, acquired the world's biggest hog producer, Smithfield Foods, it was well placed to deliver growth in a highly fragmented market. But this week, WH slashed its proposed IPO by two-thirds to US$1.9 billion - a result, fund managers and bankers... https://www.scmp.com/business/companies/article/1496621/series-blunders-forced-wh-shrink-ipo?utm_source=rss_feed https://www.scmp.com/business/companies/article/1496621/series-blunders-forced-wh-shrink-ipo?utm_source=rss_feed Fri, 25 Apr 2014 05:45:45 +0000 WH Group, the Sino-US pork producer formerly known as Shuanghui International, is marketing its US$6 billion share sale in Hong Kong at a lower valuation than previously sought amid a tepid market, people familiar with the deal said. The world's largest pork company, based in Henan province, has kicked off pre-marketing for its initial public offering after it received approval from the Hong Kong stock exchange last week. The indicative price range is likely to be between 15 and 18 times... https://www.scmp.com/business/companies/article/1463155/pork-producer-wh-lowers-ipo-price-range?utm_source=rss_feed https://www.scmp.com/business/companies/article/1463155/pork-producer-wh-lowers-ipo-price-range?utm_source=rss_feed Wed, 02 Apr 2014 07:45:45 +0000 Still licking its wounds from the loss of Alibaba's planned US$15 billion initial public offering, the Hong Kong stock exchange may find some consolation in the imminent listing of Shuanghui International, likely to be the city's biggest this year. The mainland's largest meat processor, best known for its branded ham and sausage products, was scheduled to apply on Thursday for a listing in the city, three people familiar with its plans said. If successful, Shuanghui, which will be listed under... https://www.scmp.com/business/money/markets-investing/article/1456138/shuanghui-could-soon-salve-hong-kong-bourses-wounds?utm_source=rss_feed https://www.scmp.com/business/money/markets-investing/article/1456138/shuanghui-could-soon-salve-hong-kong-bourses-wounds?utm_source=rss_feed Mon, 24 Mar 2014 06:30:00 +0000 Hong Kong's retail investors are clamouring for rare shares in a Chinese pork supplier this week, heralding a potential stampede when industry giant WH Group comes to market in April with what could be a US$6 billion listing. With few fresh Chinese meat sector listings, the chance to buy into a vast, steadily growing industry has made little-known Huisheng International popular. Its initial public offering, due to be priced late yesterday, generated retail demand 20 times the US$37 million... https://www.scmp.com/business/money/markets-investing/article/1432608/appetite-huisheng-ipo-bodes-well-fellow-pork?utm_source=rss_feed https://www.scmp.com/business/money/markets-investing/article/1432608/appetite-huisheng-ipo-bodes-well-fellow-pork?utm_source=rss_feed Fri, 21 Feb 2014 07:45:30 +0000 Shuanghui International, China's biggest meat processor, which acquired American pork producer Smithfield Foods for US$4.7 billion last year, has added another 10 underwriting banks to the syndicate for its US$5 billion Hong Kong initial public offering, people familiar with the deal said. In a bid to expedite the planned share sale, Shuanghui International - which will be listed as WH Group, a holding company created for the public offering that carries assets including Smithfield Foods and... https://www.scmp.com/business/china-business/article/1415369/shuanghui-adds-10-banks-hong-kong-wh-group-listing?utm_source=rss_feed https://www.scmp.com/business/china-business/article/1415369/shuanghui-adds-10-banks-hong-kong-wh-group-listing?utm_source=rss_feed Mon, 27 Jan 2014 17:30:00 +0000 Shuanghui International, China’s biggest pork producer which acquired Smithfield Foods for US$4.7 billion last year, has added another 10 underwriting banks to the syndicate for its ongoing US$5 billion Hong Kong initial public offering, according to people familiar with the deal said. In a bid to expedite the planned share sale, Shuanghui International, which will be listed under the name of WH Group, a holding company created for the public offering that carries assets including Smithfield... https://www.scmp.com/business/companies/article/1414909/jpmorgan-credit-suisse-among-10-banks-join-shuanghui-ipo?utm_source=rss_feed https://www.scmp.com/business/companies/article/1414909/jpmorgan-credit-suisse-among-10-banks-join-shuanghui-ipo?utm_source=rss_feed Mon, 27 Jan 2014 06:30:45 +0000 Shuanghui International, China's largest meat processor, plans to apply as early as next week for a listing on the Hong Kong stock exchange to raise up to US$6 billion, making it one of the biggest initial public offerings in Asia in recent memory, said people familiar with the situation. Shuanghui's plan for an offering comes less than five months after its US$4.7 billion acquisition of Smithfield Foods, the biggest pork producer in the US, vaulting the Henan-based company into the top ranks of... https://www.scmp.com/business/china-business/article/1404455/shuanghui-apply-next-week-us6-billion-hong-kong-ipo-sources?utm_source=rss_feed https://www.scmp.com/business/china-business/article/1404455/shuanghui-apply-next-week-us6-billion-hong-kong-ipo-sources?utm_source=rss_feed Mon, 13 Jan 2014 01:33:42 +0000 The United States and Britain have emerged as the bright spots for overseas Chinese investments lately, while China's investment in the rest of Europe has waned. Chinese firms spent US$7.5 billion on 10 acquisitions and eight greenfield projects in the US in the third quarter, according to Rhodium Group, a US consultancy - the highest quarterly investment in the country by Chinese investors. Investment in the second quarter totalled US$2.5 billion and for the whole of last year amounted to... https://www.scmp.com/business/china-business/article/1346798/chinese-companies-target-us-and-uk?utm_source=rss_feed https://www.scmp.com/business/china-business/article/1346798/chinese-companies-target-us-and-uk?utm_source=rss_feed Sun, 03 Nov 2013 21:45:00 +0000 Shuanghui International, China’s largest meat processor, plans to import more pork from pigs not fed ractopamine, a controversial food additive, from its new unit Smithfield Foods, the biggest pig farmer in the United States, executives said on Thursday. Shuanghui received clearance last month US authorities for the US$4.7 billion acquisition, the biggest of a US company by a Chinese firm. Wan Long, chairman of Shuanghui, said at a media briefing that the mainland firm plans to boost the... https://www.scmp.com/business/companies/article/1328605/shuanghui-import-more-clean-pork-new-smithfield-unit?utm_source=rss_feed https://www.scmp.com/business/companies/article/1328605/shuanghui-import-more-clean-pork-new-smithfield-unit?utm_source=rss_feed Thu, 10 Oct 2013 08:00:46 +0000 Smithfield Foods shareholders have voted in favour of Shuanghui International's US$4.7 billion deal, approving the largest Chinese purchase of a United States company. The US$34-a-share offer for the world's largest producer of hogs and pork was approved by 96 per cent of voting shareholders, chief executive Larry Pope said at a special meeting in Richmond, Virginia, yesterday. Shuanghui agreed to buy the meat processor in May. An alternative plan from an activist shareholder to split the... https://www.scmp.com/business/companies/article/1317165/shuanghui-wins-over-smithfield-shareholders?utm_source=rss_feed https://www.scmp.com/business/companies/article/1317165/shuanghui-wins-over-smithfield-shareholders?utm_source=rss_feed Tue, 24 Sep 2013 16:00:00 +0000 Shuanghui International is close to securing shareholder approval for its US$4.7 billion offer for Smithfield Foods - which would be the biggest purchase of a US company by a Chinese firm - three people familiar with the matter said. The shareholder vote on Tuesday will be a key milestone that also raises pressure on activist investor Starboard Value, which opposes the transaction, to come up with an alternative plan for the world's largest pork producer. The deal needs the approval of just over... https://www.scmp.com/business/china-business/article/1312628/shuanghui-closer-smithfield-approval?utm_source=rss_feed https://www.scmp.com/business/china-business/article/1312628/shuanghui-closer-smithfield-approval?utm_source=rss_feed Wed, 18 Sep 2013 16:00:00 +0000 The US government should soon give the go-ahead for the largest ever Chinese acquisition of a US company: a Chinese food group’s US$4.7 billion deal to buy Smithfield Foods, a person familiar with the matter told Reuters. Government approval of the purchase of Smithfield by Shuanghui International Holdings would be a major step forward for the deal. But it still needs shareholder approval, and at least one substantial shareholder is looking for a higher price. The bid, an effort to feed China’s... https://www.scmp.com/business/companies/article/1304584/us-unlikely-block-chinese-purchase-smithfield?utm_source=rss_feed https://www.scmp.com/business/companies/article/1304584/us-unlikely-block-chinese-purchase-smithfield?utm_source=rss_feed Fri, 06 Sep 2013 02:46:20 +0000 The US government is unlikely to block Chinese meat company Shuanghui International’s US$4.7 billion deal to buy Smithfield Foods on national security grounds, one person familiar with the matter told Reuters. The deal, if approved, would be the largest ever acquisition of a US company by a Chinese firm. The bid - an effort to feed a growing Chinese appetite for US pork - has stirred some concern among US politicians and faced review by a committee of several government agencies overseen by the... https://www.scmp.com/business/companies/article/1303869/us-likely-approve-chinese-purchase-smithfield?utm_source=rss_feed https://www.scmp.com/business/companies/article/1303869/us-likely-approve-chinese-purchase-smithfield?utm_source=rss_feed Thu, 05 Sep 2013 05:03:17 +0000 One of US pork producer Smithfield Foods' largest shareholders said yesterday that it plans to vote against a proposed takeover by China's largest meat producer because it wants more time to seek other offers that would provide greater shareholder value. New York-based investment firm Starboard Value, which owns about 5.7 per cent of Smithfield's common stock, wrote to shareholders yesterday saying it would vote against the deal, struck with Shuanghui International, at a meeting scheduled for... https://www.scmp.com/business/companies/article/1302887/smithfield-investor-seeks-block-shuanghui-deal?utm_source=rss_feed https://www.scmp.com/business/companies/article/1302887/smithfield-investor-seeks-block-shuanghui-deal?utm_source=rss_feed Tue, 03 Sep 2013 16:00:00 +0000 The biggest Chinese takeover of a US company - Shuanghui International's US$4.7 billion bid for top pork producer Smithfield Foods - encountered another hurdle last week, but progress in bilateral talks last month offers hope that such problems could one day be a thing of the past. An all-encompassing bilateral investment treaty (BIT) between China and the United States appears a step closer after advances in negotiations at the China-US strategic and economic dialogue in Washington on July... https://www.scmp.com/business/companies/article/1294288/bilateral-talks-bring-investment-boost-closer?utm_source=rss_feed https://www.scmp.com/business/companies/article/1294288/bilateral-talks-bring-investment-boost-closer?utm_source=rss_feed Sun, 04 Aug 2013 16:00:00 +0000 Shuanghui International's pending US$4.7 billion purchase of America's Smithfield Foods, the world's largest pork producer, does not involve sensitive areas like cutting-edge technology or telecommunications. Nor is it a state enterprise, but a holding company that controls China's largest meat processor and plans to list the combined company in Hong Kong. Its shares are roughly half owned by a group of investors including Goldman Sachs and Temasek Holdings, Singapore's sovereign wealth fund. So... https://www.scmp.com/comment/insight-opinion/article/1293372/us-should-approve-smithfield-foods-purchase?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/article/1293372/us-should-approve-smithfield-foods-purchase?utm_source=rss_feed Wed, 31 Jul 2013 16:00:00 +0000 US lawmakers are concerned a Chinese company's planned US$4.7 billion acquisition of pork producer Smithfield Foods could affect the safety and availability of heparin, a blood-thinner widely used in heart surgery and kidney dialysis that is derived from pig intestines. Members of the House Committee on Energy and Commerce wrote to Smithfield on Wednesday asking the company to turn over information on its production of crude heparin. As well as being the world's largest pork producer, with more... https://www.scmp.com/business/companies/article/1291598/shuanghuis-smithfield-bid-sparks-us-worries-over-supply-drug?utm_source=rss_feed https://www.scmp.com/business/companies/article/1291598/shuanghuis-smithfield-bid-sparks-us-worries-over-supply-drug?utm_source=rss_feed Fri, 26 Jul 2013 16:00:00 +0000 China’s Shuanghui International, which has agreed to buy US pork producer Smithfield Foods for US$4.7 billion (HK$36.46 billion), plans to list the combined company in Hong Kong after completing the takeover, people with knowledge of the matter said. A Hong Kong IPO, valued at around US$4 billion, would allow the merged group to trade in a market that would place a higher valuation on the stock than the US or other exchanges, the sources said. Hong Kong is a far bigger and more international... https://www.scmp.com/business/companies/article/1284186/smithfields-china-bidders-plan-hong-kong-ipo-after-deal-sources?utm_source=rss_feed https://www.scmp.com/business/companies/article/1284186/smithfields-china-bidders-plan-hong-kong-ipo-after-deal-sources?utm_source=rss_feed Tue, 16 Jul 2013 13:23:35 +0000 The US$4.7 billion deal by meat processing enterprise Shuanghui International to buy the US firm Smithfield Foods has again raised questions about the price of overseas acquisitions. Is it wise for Shuanghui to acquire the US pork producer at over 30 per cent premium without any requirements? Of course, Chinese companies are acquiring European and US companies at an increasing pace and are becoming more proficient in the financial and legal challenges of outbound mergers and acquisitions, but... https://www.scmp.com/comment/insight-opinion/article/1267436/art-persuasion-can-help-chinese-companies-find-global?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/article/1267436/art-persuasion-can-help-chinese-companies-find-global?utm_source=rss_feed Sun, 23 Jun 2013 16:00:00 +0000 A group of 15 US senators from both the Republican and Democratic parties has urged the Obama administration to consider whether the proposed sale of Smithfield Foods to the Chinese meat company Shuanghui International posed a threat to the US food supply that could justify blocking the deal. "We believe that our food supply is critical infrastructure that should be included in any reasonable person's definition of national security," the senators said in a letter to treasury secretary Jack Lew,... https://www.scmp.com/business/companies/article/1266240/us-senators-want-security-probe-over-pork-takeover?utm_source=rss_feed https://www.scmp.com/business/companies/article/1266240/us-senators-want-security-probe-over-pork-takeover?utm_source=rss_feed Fri, 21 Jun 2013 16:00:00 +0000 Smithfield Foods, the pig producer that has agreed to a US$4.7 billion bid from Shuanghui International, was urged by activist investor Starboard Value to consider splitting itself up instead. A break-up may value the world's largest pork producer at about US$44 to US$55 a share, the investor, which said it holds a 5.7 per cent stake in the company, wrote in a letter to Smithfield's board. Hong Kong-based Shuanghui agreed in May to pay US$34 a share for the company. "We question whether the... https://www.scmp.com/business/companies/article/1263459/big-investor-urges-smithfield-breakup-over-buyout?utm_source=rss_feed https://www.scmp.com/business/companies/article/1263459/big-investor-urges-smithfield-breakup-over-buyout?utm_source=rss_feed Tue, 18 Jun 2013 02:47:41 +0000 Smithfield Foods, subject of a US$4.7 billion bid from China’s Shuanghui International, posted a 63 per cent drop in quarterly profit as costs rose and exports to China fell due to a ban on an additive it feeds to pigs to produce lean meat. Smithfield has already started to wind down its use of the additive, ractopamine, and resumed shipments to China in March. But it said double-digit declines in exports to China and Russia, which also banned the additive, had pushed production onto the... https://www.scmp.com/business/companies/article/1262853/smithfield-profit-plunges-after-china-blocks-imports?utm_source=rss_feed https://www.scmp.com/business/companies/article/1262853/smithfield-profit-plunges-after-china-blocks-imports?utm_source=rss_feed Mon, 17 Jun 2013 07:16:05 +0000 On a sunny March afternoon, 11 Chinese executives armed with digital cameras and iPads got out of a van on Brazil's highway BR-163 to photograph soyabean-laden trucks headed to export terminals. Dressed in polo shirts, jeans and boots, the officials from five state-owned companies, which together imported 40 per cent of China's soyabeans last year, had travelled six hours to see the oilseed being moved from farms to ports during a tour organised by Rabobank of the Netherlands. They are part of a... https://www.scmp.com/business/china-business/article/1259397/hunger-farm-assets?utm_source=rss_feed https://www.scmp.com/business/china-business/article/1259397/hunger-farm-assets?utm_source=rss_feed Wed, 12 Jun 2013 16:00:00 +0000 President Barack Obama's talks with President Xi Jinping this weekend comes as acquisitions by mainland companies in the US heighten public unease toward its economic rival. Proponents of the deals say Americans ought to relax. The biggest ever Chinese deal in the US, Shuanghui International's US$4.72 billion purchase of US pig producer Smithfield Foods announced last week, touched off the latest round of suspicion. Iowa Senator Charles Grassley said he worried about food supply, while a survey... https://www.scmp.com/business/companies/article/1255989/shuanghuis-smithfield-buy-stokes-us-unease-belies-benefits-deal?utm_source=rss_feed https://www.scmp.com/business/companies/article/1255989/shuanghuis-smithfield-buy-stokes-us-unease-belies-benefits-deal?utm_source=rss_feed Fri, 07 Jun 2013 16:00:00 +0000 Is pork really a matter of national security? To China it might be, given that the meat is a staple foodstuff of a rapidly growing economy. But in the United States? How many security concerns can one country have? News that China's Shuanghui International had agreed to buy Smithfield Foods, the world's largest pork producer, for US$4.7 billion, or US$7.1 billion including debt, set alarm bells ringing throughout the US. Some members of congress were incandescent with anger at prime brands such... https://www.scmp.com/business/china-business/article/1253568/will-chinas-pigs-deal-fly?utm_source=rss_feed https://www.scmp.com/business/china-business/article/1253568/will-chinas-pigs-deal-fly?utm_source=rss_feed Tue, 04 Jun 2013 16:00:00 +0000