Bright Food, Brit PE Firm Mum On Rumored £1B Cereal Buy

Law360, New York (April 26, 2012, 9:33 PM EDT) -- Rumors are resurfacing that British private investment firm Lion Capital LLP is in talks with China's Bright Food Group Co. Ltd. about a possible £1 billion (US$1.6 billion) sale of the popular Weetabix cereal brand, despite the Chinese company's claims to the contrary.

Bright Food seeks to meet rising demand from China's growing middle class with the acquisition of packaged food companies like Weetabix Ltd., which does business as Weetabix Food Co., Dow Jones reported Wednesday, citing unnamed sources familiar with the situation.

However, Bright Food...
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