date:May 13, 2016
Associated British Foods (ABF) is reportedly contemplating the sale of its unprofitable sugar business in China to remain focused on its sugar operations in Europe and Africa.
For this purpose, the food company has invited bids for five of its cane sugar mills in southern China and two sugar beet factories in the north-eastern part of the country, sources familiar with the matter told the Financial Times.
The company is expected to raise nearly $1bn from the transaction.
Chinese investors are