Earlier this month, Bright Food entered into an agreement pay £720m to acquire 60% controlling stake in Weetabix, in a deal that values Weetabix at £1.2bn, including debt. Lion Capital and the Weetabix management will hold the remaining 40% stake in the company.
The company is planning to consult four banks for the loan, which is expected to be about $1bn. The details of the loan have not been finalized.
Bright Food spokesman Pan Jianjun said that Bright Food has been raising capital by selling commercial paper in recent years.
"We won't rule out borrowing from commercial banks this time," Jianjun added.
Earlier this month, Bright Food entered into an agreement pay £720m to acquire 60% controlling stake in Weetabix, in a deal that values Weetabix at £1.2bn, including debt. Lion Capital and the Weetabix management will hold the remaining 40% stake in the company.
