Deals
Nestle to Buy 60% Stake in Hsu Fu Chi for $1.7 Billion
This article is for subscribers only.
Nestle SA, the world’s largest food company, agreed to buy 60 percent of Hsu Fu Chi International Ltd., a Chinese snack and candy maker, for S$2.07 billion ($1.7 billion) to tap growth in the world’s most populous nation.
Nestle’s cash offer of S$4.35 for each share of Singapore-listed Hsu Fu Chi is 8.8 percent above the stock’s closing price on July 8. The controlling Hsu family will own 40 percent of the confectioner after the acquisition, the companies said today.