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flag UK food firm Bakkavor sells its China business for £50 million amid a potential £1.2 billion takeover.

flag UK food producer Bakkavor has agreed to sell its China business to a local company for £50 million. flag The deal, pending regulatory approval, includes seven factories and 2,300 employees. flag Bakkavor plans to use the proceeds to cut debt and boost its profit margin to 6%. flag The sale comes as Bakkavor faces a potential £1.2 billion takeover by rival Greencore, with the bid deadline now extended to May 9.

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