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Bright Food to buy 60% stake in Weetabix

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Bright Food (Group) Co., Ltd., Shanghai, China, one of China’s largest food groups, agreed to acquire a 60% stake in The Weetabix Food Co., Kettering, UK, for approximately £1.2 billion (US$1.9 billion), including company shares and debt. The remaining 40% of the shares will continue to be held by London-based private equity firm Lion Capital and the Weetabix management. The transaction is expected to be finalized in the second half of 2012.

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