Kam Fung eyes In­car­lopsa stake

Global Times - - Biz Overview -

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.

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