Nissin Foods Holdings has denied reports that it is planning to buy a stake in Chinese noodles maker Sichuan Baijia Food.
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The official Shanghai Securities News reported that Sheng Jiawu, vice president of Sichuan’s owner the Baijia Group, had said Nissin and Baijia had begun negotiations two years ago.
According to the Chinese sources, the Japanese company expects to buy at least 33.4% of the company.
Sichuan has said that it wants to sell a 20-25% stake before it goes public at the end of next year.
Nissin told just-food today (10 October) that it has no intention of investing in Sichuan “now or in the future” and that such a claim came from China only.
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