ABF’s China cane sugar business sold to PE-backed consortium
Associated British Foods (ABF), a UK-based food processing and retailing company, has agreed to sell its cane sugar business in southern China to a PE-backed consortium led by Shenzhen-listed Nanning Sugar Industry for RMB1.68 billion ($252 million).
The Chinese company said in a filing that Nanning Nantang M&A Fund, an industry buyout vehicle set up by Nanning Sugar and other PE investors, has acquired controlling interests in ABF's four China joint...
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