Chinese confectioner Hsu Fu Chi today (4 June) confirmed that it has held talks with Nestle over a potential takeover.
In a notice to the Singapore Stock Exchange, Hsu Fu Chi said that the “preliminary discussions” are in relation to a “possible transaction” that “may or may not lead to an offer being made for the shares in the company”.
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Earlier today, Hsu Fu Chi asked for trading in its shares to be suspended following speculation that it was in talks with Nestle.
In an earlier statement, Hsu Fu Chi said as part of the “sustained development of the enterprise and its brands” it has “long been pursuing strategic talks with potential confectionery partners”. It said that “interactive contacts” have been conducted with counterparts from Japan, Europe and the US for years under a continued policy.
Nestle could not be reached for immediate comment.
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