Chinese private equity investor CDH Investments is selling up to $916 million of its shares in WH Group, the world’s largest pork company, IFR reported on Wednesday, citing a deal marketing termsheet.
CDH is selling about 1.2 billion shares in an indicative price band of between HK$5.90 and HK$6.05 ($0.7609 – $0.7803) per share, the Thomson Reuters publication reported. Shares in WH Group ended 1.5 percent higher on Wednesday at HK$6.26.
The number of shares being sold represents 8 percent of the total outstanding shares of WH Group, IFR reported, adding that the chairman and management of the pork company will buy about 25 percent of the equities on offer.
A spokesman for WH Group in Hong Kong said the company was not aware of the transaction.
CDH did not immediately respond to an emailed request for comment outside regular Asia business hours.
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