date:May 12, 2012
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 co