BEIJING: China’s second-largest food company Bright Food Group has agreed to sell British-based breakfast cereal maker Weetabix to US company Post Holdings in a deal worth 1.4 billion pounds ($1.8 billion), Bloomberg News said Tuesday.
State-owned Bright Food bought a 60 percent stake in Weetabix for 1.2 billion pounds in 2012, part of an aggressive search for overseas assets as it sought to expand its global footprint.
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