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Current Position:Home » News » Beverages & Alcohol » Beverages » Topic

Huiyuan to sell Shanghai branch to Taiwan food group

Zoom in font  Zoom out font Published: 2013-06-21  Origin: China Daily  Views: 12
Core Tip: Hong Kong-listed China Huiyuan Juice Group Ltd confirmed Wednesday that negotiations to sell its Shanghai branch are in progress but no deal has been reached.
China Huiyuan JuiceHong Kong-listed China Huiyuan Juice Group Ltd confirmed Wednesday that negotiations to sell its Shanghai branch are in progress but no deal has been reached.

In a filing to the Hong Kong Exchanges and Clearing on Wednesday, Huiyuan Juice said the company noticed recent media reports about its beverage company in Shanghai, and admitted a deal was being negotiated.

"Once a deal is signed, we will announce it," the company said.

Reports on Tuesday said that Taiwan-based food conglomerate Uni-President Enterprises Corp will spend 300 million yuan ($49 million) to purchase Shanghai Huiyuan, a wholly-owned unit of Huiyuan Juice that produces vegetable and fruit juice.

Uni-President plans to invest $204 million in expanding its presence on the Chinese mainland, and it will have 40 plants by the end of 2014, Taiwan media reported, citing sources from Uni-President.

 
 
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