Kam Fung eyes Incarlopsa stake

China’s Kam Fung Group Co is in talks to acquire the bulk of Incarlopsa, in a deal that would value the Spanish meat producer at 1 billion euros ($1.2 billion), people with knowledge of the matter said.

The potential deal comes as Chinese investors are gradually renewing their interest in overseas acquisitions as the Chinese government begins to ease tough currency controls it introduced to limit capital flight in late 2016.

Kam Fung, a privately held Chinese investment firm, is looking to buy a 95 percent stake in Incarlopsa, which is controlled by the Loriente Piqueras family and has nearly 200 million euros in debt, said one of the people.

The family would keep the remaining shares.