QAF cancels Indofood deal

QAF cancels Indofood deal

SINGAPORE (Dow Jones): Singapore's breadmaker QAF Ltd said
yesterday it decided to abort the proposed acquisition of a
majority stake in Indonesian instant noodle maker Indofood Sukses
Makmur, as a result of the region's woes.

QAF also said that it has decided to abort the rights issue to
finance the acquisition.

The region's continuing uncertainty and difficult economic
outlook led to the board's decision, the group said.