HONG KONG: Nestle SA has chosen JPMorgan Chase & Co to handle the sale of its Chinese unit Yinlu Foods Group, in a deal that could value the business at about US$1bil, sources said.
The world’s largest food company is working with JPMorgan to prepare for the potential divestment, said the people, who asked not to be identified as the information is private.
Nestle is reaching out to potential buyers, including Chinese food and beverage companies like Dali Foods Group Co, Hangzhou Wahaha Group Co and Uni-President China Holdings Ltd, the sources said.