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Monday
Oct252010

UK Company United Biscuits Could Be Taken Over By a Chinese Company

You may remember the depth of feeling that was shown a few months ago when the British born company Cadbury was taken over by Kraft. Now it seems as if United Biscuits could be lost to a foreign company as well, as a Chinese company has expressed an interest in taking over the company.

United Biscuits is responsible for producing some of the UK’s most popular products. But although Vince Cable, the coalition government’s Business Secretary, is bound to dislike the plan, he may not have much say in the matter.

It may surprise some people to discover that United Biscuits is already out of British hands. Two foreign private equity groups currently co-own the business, so a sale to the Chinese company Bright Food would not be as much of a change as Cadbury was to Kraft. Although it is interesting to note that at one point Kraft was interested in purchasing United Biscuits as well. It seems as if more British businesses are destined to fall into foreign hands.

However personally speaking I think it would be a shame to lose United Biscuits to another major foreign company. I will be interested to see how Vince Cable approaches the potential sale, although he may not be able to influence the outcome when all is said and done. But in a year when we have already lost Cadbury to the US, I will be keeping a close eye on what happens to this company as well.

If you own a business and you are considering the implications of selling it to someone else with regard to taxes and income, you can contact us for advice at St Matthew now.

 

 

 



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