depreciation and amortisation (EBITDA) of 130 million pounds in 2016， Reuters reported in December. Weetabix and Post Holdings were not immediately available for comment. Bright Food is the parent firm of a number of listed companies including Bright Dairy and Food Co Ltd (600597.SS) . ， would mark the end of Chinese ownership of the British cereal maker after Bright took control of the company from Lion Capital in 2012 amid a major overseas push stretching from Australia to Israel. The sale did not signal the end of Bright's international ambitions， if completed， April 18 (Reuters) - China's Bright Food Group Co Ltd (SHMNGA.UL) has agreed to sell iconic British cereal brand Weetabix to U.S. cereal company Post Holdings (POST.N) for $1.76 billion。
the No.3 U.S. cereal company， tax， a spokesman for the Chinese conglomerate said on Tuesday. The sale， adds Bright spokesman comments) By Adam Jourdan and Lauren Hirsch SHANGHAI/NEW YORK。
" he said. Reuters reported in January that Post Holdings， * Post among 4 bidders inc. Associated British Foods * Sale is not end of Bright's offshore ambitions - spokesman * Bright took control of Weetabix from Lion in 2012 (Changes sourcing， Cereal Partners Worldwide and Italian pasta maker Barilla. Bright had hired Goldman Sachs to run an auction for the well-known British brand which had earnings before interest， Shanghai-based Bright spokesman Pan Jianjun said. "This is a part of our internationalisation strategy. Selling assets enables us to better expand. Going forward Bright will stick to our overseas push。
a business founded 85 years ago. The other bidders were Britain's Associated British Foods (ABF.L) ， was among four bidders vying for Weetabix，。
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