Food Industry News Pop: Shuanghui's $4 Billion Loan Raises $5 Billion so Far

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Food Industry News Pop: Shuanghui's $4 Billion Loan Raises $5 Billion so Far

Food Industry News Pop: Shuanghui's $4 Billion Loan Raises $5 Billion so Far
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Food Industry News Pop: Shuanghui's $4 Billion Loan Raises $5 Billion so Far

Wochit 0:53 mins

The $4 billion loan backing Chinese pork producer Shuanghui International's $4.7 billion bid for U.S. meat processor Smithfield Foods, has raised $5 billion from banks so far and could rise to $9 billion, banking sources said. KFC parent Yum Brands Inc reported an estimated 10 percent drop in June sales at established restaurants in China - a smaller decline than in May when drastically lower sales related to the country's bird flu outbreak began to moderate. Kroger Co said it would buy regional grocer Harris Teeter Supermarkets Inc in a $2.5 billion deal, the latest in a string of grocery industry consolidations.

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