Beston Global Food (ASX:BFC) - CEO, Fabrizio Jorge
CEO, Fabrizio Jorge
Source: Fabrizio Jorge/LinkedIn
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Beston Global Food Company (BFC) makes progress on entering a strategic partnership with Thailand-based, KCG Corporation
  • The companies previously entered a memorandum of understanding in June, whereby KCG would become a strategic investor in BFC and enter a long-term agreement to supply its dairy, meat, and alternative meat products in Thailand
  • As part of due diligence activities, representatives of KCG recently visited Adelaide, while the CEO of Beston visited Bangkok
  • The companies have now targeted the end of August to settle the transaction
  • Shares are trading steady at market close to end the day at 7.3 cents each

Beston Global Food Company (BFC) has made progress on entering into a strategic partnership with Thailand-based, KCG Corporation.

As part of due diligence activities, representatives of KCG recently visited Adelaide, while the CEO of Beston visited Bangkok.

The companies previously entered a memorandum of understanding in June, whereby KCG would become a strategic investor in BFC and enter a long-term agreement to supply its dairy, meat, and alternative meat products in Thailand.

As part of this deal, Beston will receive $10 million by issuing about 103.63 million new shares at 9.65 cents each.

KCG is one of the largest importers of dairy products in Thailand and has wide distribution options across the Southeast Asia region.

The companies have now targeted the end of August to settle the transaction.

Shares were trading steady at market close to end the day at 7.3 cents each.

BFC by the numbers
More From The Market Online
Small pile of rare earth minerals

Critica confirms high grade REE mineralisation at Jupiter with 3,074 ppm intercept

Critica Ltd has confirmed high grade REE mineralisation at the Jupiter target, part of the larger…
AI gen vanadium flow battery concept

Aussie Vanadium unveils vision for a 100MW modular vanadium flow battery

Australian Vanadium has kicked off Project Lumina, seeking to build a modular 100MW Vanadium Flow Battery…
Crosse section of the earth

Earths Energy confirms Paralana as an Enhanced Geothermal Systems Program project

Earths Energy Ltd has completed preliminary work on its Techno Economic Feasibility study for the Paralana…
India Europe trade concept

Evion Group to ink first $2M from sales of expandable graphite to Europe

Evion Group has confirmed it's set to receive around A$2M in payments to its India-based JV…