Del Monte Foods selects bidders for asset sale transactionsDel Monte Foods said it has negotiated asset purchase agreements with three parties for substantially all of its assets and business operations as going-concern businesses. MANILA, Philippines — Del Monte Foods Inc., an indirect subsidiary of Singapore and Philippine-listed Del Monte Pacific Ltd. (DMPL), has chosen three bidders for the sale of business assets in its court-supervised auction process. Del Monte Foods said it has negotiated asset purchase agreements with three parties for substantially all of its assets and business operations as going-concern businesses. “This outcome represents a successful result in our sale process and demonstrates the enduring value of Del Monte Foods’ brands and operations. The sale transactions are subject to the approval of the US Bankruptcy Court for the District of New Jersey and customary closing conditions.
