China Foods to sell wine, non-beverage business to parent for $649 mln
October 16, 2017 at 21:26 PM EDT
HONG KONG, Oct 17 (Reuters) - China Foods Ltd said it would sell its wine and other non-beverage businesses to a unit of its state-owned parent COFCO Corp in a deal valued at HK$5.07 billion ($649 million) as it aims to focus on its beverage business.