China's Bright to sell Weetabix to Post Holdings for US$1.76b
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Shanghai
CHINA'S Bright Food Group Co Ltd has agreed to sell iconic British cereal brand Weetabix to US cereal company Post Holdings for US$1.76 billion, a spokesman for the Chinese conglomerate said on Tuesday.
The sale, if completed, would mark the end of Chinese ownership of the British cereal maker after Bright took control of the company from Lion Capital in 2012 amid a major overseas push stretching from Australia to Israel.
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