Deals
Nestle Narrows Bidders for Yinlu Foods Unit in China
- Dali Foods, Tingyi, China Resources Beer among suitors
- Binding offers for porridge business due in late August
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Nestle SA has narrowed the list of bidders for its Chinese unit Yinlu Foods Group, which could fetch at least $400 million, according to people with knowledge of the matter.
Fellow food and beverage companies China Resources Beer Holdings Co., Tingyi Cayman Islands Holding Corp. and Dali Foods Group Co. are among suitors selected for the next round of bidding, the people said, asking not to be identified as the information isn’t public.