CHINA: Bankrupt foreign chocolate factory finds buyer – at last
Bankrupt foreign-owned chocolate factory Coline Food Co. was sold off at an auction on Friday, after a previous auction failed to find a buyer. The company has been bought by Chinese grain producer Fengyuan Group for 95m yuan (US$11.4m). The move represents something of a landmark, as Coline is the first non-Chinese firm to be auctioned off after going out of business.
Bankrupt foreign-owned chocolate factory Coline Food Co. was sold off at an auction on Friday, after a previous auction failed to find a buyer. The company has been bought by Chinese grain producer Fengyuan Group for 95m yuan (US$11.4m).
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