HONG KONG Oct 8 State-backed conglomerate China
Resources Enterprise Ltd is studying options for its
Hong Kong meat distribution unit, including a possible sale,
Bloomberg News reported.
Citing two people with knowledge of the matter, Bloomberg
said late on Monday that China Resources, which took beef
supplier Ng Fung Hong private in 2001 in a deal valued at HK$5.1
billion ($658 million), may start a strategic review of the
business as early as this year. It gave no further details.
The beer-to-retail conglomerate did not immediately reply to
a request for comment.
China Resources, the country's second-largest supermarket
chain, is among the bidders for ParknShop, Hong Kong's biggest
supermarket chain controlled by tycoon Li Ka-shing. Analysts
have said the purchase would help the company expand market
share through a quality brand.
($1 = 7.7544 Hong Kong dollars)
(Reporting by Donny Kwok; Editing by Anne Marie Roantree and