Bright Food Group Co., which is backed by the Chinese government, is considering buying Weetabix from Lion Capital LLP, the Sunday Times said, without saying where it got the information.
Bright Food values the British cereal maker at about 1 billion pounds ($1.6 billion) and has been holding talks about buying the company from the U.K. private-equity firm for several weeks, the Times said.
Lion Capital was not immediately available to comment today.
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