Deals
Corn Oil Maker Changshouhua’s Owner Explores Stake Sale
- Company’s chairman is working with adviser on potential deal
- Hong Kong-listed firm has market value of about HK$1.7 billion
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The owner of Changshouhua Food Co. is exploring a sale of a controlling stake in the Hong Kong-listed corn oil producer, according to people familiar with the matter.
Chairman Wang Mingxing, who holds a combined 52% with his family, is working with an adviser on the potential sale, said the people, who asked not to be identified as the discussions are private. The adviser has reached out to some food companies and private equity firms to gauge interests, the people said. Wang and his family’s majority stake in Changshouhua was valued at about HK$900 million ($116 million) as of Friday midday.