Nestle Offers $1.7B For Stake in Chinese Candy Maker

Nestle has offered to buy 60% of Chinese candy maker Hsu Fu Chi International for about $1.7 billion, Reuters reported. Hsu Fu Chi is roughly 55% owned by the Hsu family and 15% held by Baring Private Equity. According to Reuters, the Hsu family would sell a 16.48% stake to Nestle. Nestle will also buy 43.52% from shareholders such as Baring Private Equity and asset manager Arisaig and together with the Hsu family will seek to delist the firm, Reuters said.

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