Thai President Foods unloads rice-export unit.

Byline: Sukanya Jitpleecheep

Sep. 20--Thai President Foods Plc, the manufacturer of Mama instant noodles and its affiliate, President Rice Products Co, plan to sell their combined 62 percent share in the country's leading rice export company, President Agri Trading.

Pipat Paniangvait, the majority shareholder in both companies, said the deal was worth about 300 million baht or 12 baht a share and was expected to be completed by December.

He did not disclose the buyers but an industry source said the shares would be sold to a group of investors who have strong links with members of the cabinet.

Of the total 62 percent share, 51 percent is …