BEIJING, May 31 (Reuters) - U.S. agribusiness giant Cargill has agreed to sell its poultry business in China to private equity firm DCP Capital, it said in a statement on Wednesday.
The sale of the unit known as Cargill Protein China is subject to regulatory approvals but is expected to close this year, it added.
The U.S. company started its China poultry operations in 2011, breeding, raising and processing the chickens.
China's DCP Capital has invested in several other food and agriculture businesses including one of China's top poultry producers Fujian Sunner Development(002299.SZ), its website says.
It also said the private equity firm was focused on Greater China and led by former members of the KKR and Morgan Stanley private equity businesses.
Persons:
Cargill, Morgan Stanley, Dominique Patton, Christian Schmollinger, Barbara Lewis
Organizations:
Cargill, DCP, Cargill Protein China, Wellhope, Fujian Sunner, KKR, Thomson
Locations:
BEIJING, China, United States, Chuzhou, Anhui, U.S, Fujian