Nestle majority owner in Chinese confectionery

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    The Ministry of Commerce has approved Nestle's acquisition of a 60% share of China-based, Singapore-listed Hsu Fu Chi International for US$1.7 billion.…

    The Ministry of Commerce has approved Nestle's acquisition of a 60% share of China-based, Singapore-listed Hsu Fu Chi International for US$1.7 billion. The target is headquartered in Guangdong, operating four factories that manufacture confectionaries and snacks.

    Hsu Fu Chi's shares are expected to be delisted at the end of this year after Nestle purchases 43.5% of the stake from independent shareholders and 16.5% of the shares from the Taiwanese Hsu family, who retains the remaining 40%.

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