China's Bright Food Group has reportedly upped the stake it plans to buy in Israeli grocer Tnuva to 70%.
The Chinese food and drink firm confirmed plans to buy 56% of Tnuva from UK private-equity firm Apax Partners last May, in a deal that valued the Israeli food maker at about US$2.5bn.
Go deeper with GlobalData
The deal has, however, been delayed, prompting concerns Bright could pull out.
According to Reuters, a spokesperson for Bright said the delay is due to "changes in the equity structure of the purchase" but confirmed the stake would now be over 70 percent and it would look to close the deal by April.
No-one from Bright Foods or Apax responded to just-food's requests for comment.
See Also:
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
