A Global Asset Management Seoul Korea Magazine
(RTTNews) - McCormick & Co., Inc. (MKC) is nearing a deal to acquire hot-sauce maker Cholula from private-equity firm L Catterton, the Wall Street Journal reported citing people familiar with the matter. The company is in talks with L Catterton for a deal that would value Cholula around $800 million. L Catterton has owned the Cholula brand since early 2019. The report noted that a deal, resulting from an auction of the business, could come together as soon as Tuesday. With the proposed acquisition, the seasonings company aims to capitalize on demand for spicy condiments. McCormick already owns another popular hot sauce, Frank's RedHot, which it acquired in 2017.
ADDIS ABABA (AFP) - The leader of Ethiopia's dissident Tigray region has said that his people are "ready to die" defending their homeland, rejecting Prime Minister Abiy Ahmed's ultimatum that they surrender within 72 hours. Mr Abiy launched a military campaign against the Tigray People's Liberation Front (TPLF) on Nov 4, accusing it of attacking two federal military camps in the northern region, as well as defying and seeking to destabilise his government. The federal army says its forces are within 60 kilometres of Mekele, the Tigrayan capital and seat of the TPLF, ahead of a threatened all-out bombardment of the city of half a million people. Mr Abiy - last year's Nobel Peace Prize winner - on Sunday (Nov 22) called on the TPLF to surrender peacefully within three days, saying they were "at a point of no return". But the TPLF's leader Debretsion Gebremichael said Mr Abiy was trying to cover for setbacks his army had suffered against Tigrayan forces, and was issuing threats to buy time. "He doesn't understand who we are. We are people of principle and ready to die in defence of our right to administer our region," Mr Debretsion
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