KIDO Group Joint Stock Company (KDC) has announced plans to transfer 49% of its shares in KIDO Foods to Nutifood for an estimated value of VND 2.5 trillion. This move allows KIDO to officially withdraw from the ice cream and frozen food sector, leaving the market to Nutifood. Previously, KIDO sold 24% of KDF shares to Nutifood, but this transaction was not approved by the shareholders’ meeting. KIDO also proposed to cancel a contract transferring 34 trademarks from KDF back to KIDO Group to reassert ownership rights for KIDO Foods. These actions are seen as crucial steps in the complex M&A deal between the two major companies. Additionally, KIDO plans to postpone the dividend for 2024 to prioritize cash flow for business operations amid economic challenges, with expected payment pushed to Q1 2026. The company is also seeking shareholder approval to add new business sectors, including real estate and dining services.
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