China’s antitrust regulators have approved Swiss food conglomerate Nestlé S.A.‘s $1.7 billion acquisition of a 60-percent stake in Chinese confectioner Hsu Fu Chi International.
Nestlé will buy 43.5 percent of the stake from independent shareholders and 16.5 percent from the Hsu family, who will retain the remaining 40 percent of the Chinese candy-maker’s shares. The firm’s shares, currently traded in Singapore, are expected to be de-listed later this month.
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