Del Monte Pacific Limited said on Dec, 17 2025 that its indirect subsidiary, DMPL India Limited, has signed agreements to divest up to its entire 14.4 percent interest in India-listed Sundrop Brands Limited, starting with the sale of 1.88 million shares, or 4.99 percent of the company, to CAG-Tech (Mauritius) Limited for 19.1 million Singapore dollars (14.8 million US dollars).
The deal, executed via a share-purchase agreement dated Dec, 16 2025, prices each Sundrop share at ₹715, slightly above the previous session’s National Stock Exchange volume-weighted average of ₹707.65. Completion is subject to standard regulatory and tax approvals, including clearances under Indian insider-trading rules and from the Singapore Exchange (SGX).
A companion options agreement grants CAG-Tech a call option—and Del Monte a put option—over an additional 1.88 million Sundrop shares (another 4.99 percent) at the same ₹715 price. The call can be exercised between Apr, 1 and Apr, 30 2026; if unexercised, Del Monte may compel the purchase during May 2026 for the same consideration of 19.1 million Singapore dollars.
Separately, Del Monte plans to dispose of its remaining 1.66 million Sundrop shares (about 4.4 percent) to third-party buyers on comparable terms, bringing total potential proceeds for all three tranches to roughly 55 million Singapore dollars.
Although the aggregated transactions qualify as a “major transaction” under SGX rules, the bourse has granted Del Monte a waiver from seeking shareholder approval, citing the asset’s non-core nature, irrevocable support from controlling shareholders holding more than 50 percent of the company, unanimous board backing and no expected material change in the firm’s risk profile.
Proceeds will be used to bolster the balance sheet of Del Monte’s main operating subsidiary, Del Monte Philippines Inc., and to fund working capital and debt obligations.
Del Monte expects the entire exit from Sundrop Brands to enhance its financial flexibility and allow greater focus on core businesses. The company will provide further updates as the remaining sales are executed and advises shareholders to exercise caution when dealing in its shares.