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May 21, 2002

UK/CHINA: Cadbury Schweppes to buy stake in Shanghai confectioner

UK confectionery and soft drinks giant Cadbury Schweppes is reported to be in talks with Shanghai Maling Aquarius (SAM) to acquire a 51% stake in its 75%-owned chocolate producing subsidiary Shenfeng Food Company (SFC). SFC is Shanghai's leading chocolate maker, and sources at the company told the Shanghai Daily that the companies’ officials may reach a deal next month.

UK confectionery and soft drinks giant Cadbury Schweppes is reported to be in talks with Shanghai Maling Aquarius (SAM) to acquire a 51% stake in its 75%-owned chocolate producing subsidiary Shenfeng Food Company (SFC).

SFC is Shanghai’s leading chocolate maker, and sources at the company told the Shanghai Daily that the companies’ officials may reach a deal next month.
 
An official from SFC told the newspaper: “Cadbury originally wanted to buy the total assets of Shenfeng, but we refused. Our position is that Shenfeng should still have Chinese investment, but that the equity structure is negotiable.”

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