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Business deals

Thai CP acquires Russian farms as it anticipates COVID recovery

Conglomerate spends $13m with plans to ship pork to other European nations

Charoen Pokphand Foods has acquired the food and agricultural subsidiary of Russia's BiltOil.   © Reuters

BANGKOK -- Thai conglomerate Charoen Pokphand Group has spent 404 million baht ($13 million) to strengthen its overseas livestock business in anticipation of a sharp post-COVID recovery.

The funds were used by Charoen Pokphand Foods, CP Group's food processing arm, to acquire pig farms in Russia and further its livestock business in the country.

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