Nestle , the world's largest food company, offered to buy 60% of Chinese candies and pastries group Hsu Fu Chi International for about USD 1.7 billion to expand in one of the world's biggest consumer markets.
The Hsu family, which owns 56.48% of the Singapore-listed company, will sell a 16.48% stake to Nestle, but the family will retain 40% in the firm under a joint venture deal, Hsu Fu Chi said in a statement.
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