AB Foods scales back in China

The British conglomerate has sold its China cane sugar business to Nanning Sugar; making it the latest foreign company to bow out in the face of fierce local competition.

Associated British Foods (AB Foods) said on Monday that it has agreed to sell its Chinese cane sugar business to a consortium led by Nanning Sugar, making it the latest foreign company to sell assets in the world’s second-largest economy.

¬ Haymarket Media Limited. All rights reserved.

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