Deals
Nestle to Weigh $1 Billion Sale of Local Chinese Brands
- Food company is weighing divestment of Hsu Fu Chi, Yinlu units
- Move comes amid weak market for mainstream food in China
Photographer: Nelson Ching/Bloomberg
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Nestle SA is weighing options including a sale for two ailing Chinese units after years of attempting to turn them around, people familiar with the matter said.
The food giant has been reviewing its ownership of Hsu Fu Chi, a local confectionery brand, and Yinlu, known for its ready-made Chinese porridge, according to the people. It is seeking more than $1 billion for its controlling stakes in the two companies, the people said, asking not to be identified because the information is private.