Deals
Nestle Picks JPMorgan to Handle China’s Yinlu Sale
- Deal could value Nescafe co-manufactuer in China at $1 billion
- Yinlu expects to call for initial bids as soon as late April
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Nestle SA has chosen JPMorgan Chase & Co. to handle the sale of its Chinese unit Yinlu Foods Group, in a deal that could value the business at about $1 billion, people with knowledge of the matter said.
The world’s largest food company is working with JPMorgan to prepare for the potential divestment, said the people, who asked not to be identified as the information is private. Nestle is reaching out to potential buyers including Chinese food and beverage companies like Dali Foods Group Co., Hangzhou Wahaha Group Co. and Uni-President China Holdings Ltd., the people said.