18-07-2025
China Snack Maker Seeks Government Support After 45% Price Cut
A Chinese snacks maker that cut prices by 45% now plans to make the local government its largest shareholder, in a sign of how bruising deflation in the world's second-biggest economy is claiming corporate casualties and requiring growing state intervention.
Ningbo Hanyi Venture Capital Partnership Enterprise LP, which currently holds more than 35% of Wuhan-based Bestore Co., along with with another investor plans to sell a combined 21% to an entity owned by the local government. The transaction will be valued at about 1.05 billion yuan ($146 million), according to a statement to the Shanghai stock exchange.
