experts laud bright food\s purchase of weetabix
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Experts laud Bright Food's purchase of Weetabix

Arab Today, arab today

Arab Today, arab today Experts laud Bright Food's purchase of Weetabix

Beijing - XINHUA

beAnalysts have praised Chinese food and beverage manufacturer Bright Food's acquisition of the Weetabix Food Company, a British breakfast cereal producer. Bright Food (Group) Co., Ltd. announced Monday that it had completed the acquisition of Weetabix by purchasing 60 percent of its shares, the fourth overseas acquisition made by the company in the past two years. With a transaction value of 680 million pounds (about 1.09 billion U.S. dollars) for 60 percent of Weetabix's shares and a portion of its debt, the deal marks the largest overseas acquisition by a Chinese food company. Ma Wenfeng, an analyst at Beijing Orient Agribusiness Consultant Co., Ltd., said Wednesday that the acquisition shows Bright Food's confidence in the market prospects for breakfast cereal in China. Bright Food will fully support the global growth of Weetabix by putting its focus on the Asian market, particularly China, a press release on the company's website said. Chairman of Bright Food Wang Zongnan said he believes Weetabix's sales growth in China will exceed the average annual growth of China's cereal market with the support of Bright Food. The landmark acquisition means Bright Food will be able to capitalize on Weetabix's brand influence when entering the UK and other overseas markets, Wang said. Ma said that the purchase not only concerns Bright Food's global allocation of resources, but also demonstrates its ability to exert its influence in global operations. Bright Food financed its acquisition by borrowing from both Chinese and foreign banks. It adopted a "club financing" approach by giving equal participation status to all banks, which significantly reduced lending rates. "The participation of financial institutions can enhance expectations for the acquisition's success, which can be much more important than just the capital they provide," said Zhang Huiming, head of the Enterprise Research Center at Fudan University. Financial institutions can provide external risk evaluations, Zhang said, adding that diversified judgments will help make the evaluations more scientific.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

experts laud bright food\s purchase of weetabix experts laud bright food\s purchase of weetabix

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

experts laud bright food\s purchase of weetabix experts laud bright food\s purchase of weetabix

 



GMT 10:06 2012 Saturday ,28 July

Querrey advances at ATP LA Open

GMT 21:15 2017 Thursday ,01 June

Trump condemns deadly Kabul explosion

GMT 02:15 2017 Thursday ,24 August

Is your country on the Qatar free entry list of 80?

GMT 19:48 2016 Monday ,03 October

Controversial boxing champ Tyson Fury retires

GMT 08:20 2015 Tuesday ,08 December

PC market woes show no sign of easing

GMT 17:27 2017 Tuesday ,25 April

20 Yemeni soldiers killed, injured in explosion

GMT 11:52 2017 Saturday ,30 December

OIC condemns Mar Mina Church attack

GMT 00:03 2017 Saturday ,25 March

Arab Meeting to Examine Anti-Corruption Methods

GMT 13:12 2017 Thursday ,20 April

Deputy premier meets Arab League chief

GMT 14:13 2014 Friday ,10 January

Opel Astra GTC

GMT 18:27 2016 Tuesday ,02 August

Turkish Foreign Minister arrives in Islamabad

GMT 11:27 2016 Tuesday ,13 December

Saudi woman arrested for challenging social norms
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday