Chinese meat producer Henan Shineway put itself up for sale in a deal that could value the state-controlled group at about US$800 million, the Financial Times reports.
The deal attracted interest from private equity groups including JPMorgan Partners, American International Group Inc. (AIG), and Singapore's Temasek Holdings (TEMAH.YY), the paper says.
Henan Shineway, AIG, and JPMorgan Partners declined to comment and Temasek was unavailable for comment, the paper says.
The paper cites people close to the situation as saying Henan Shineway, which controls domestically listed Henan Shuanghui Investment & Development Co. (000895.SZ), held preliminary talks with potential bidders, but no deal has been signed and the process could still collapse.
People close to the situation said the sale of Henan Shineway could be complicated by the ownership structure of Henan Shuanghui, which has a market capitalization of more than CNY7 billion, the paper says, without elaborating.
