COFCO in plans to revamp its assets

COFCO Corp, China's largest food company, has invited investment banks to submit proposals for a possible group restructuring, people with knowledge of the matter said.

The Beijing-based firm, which controls eight listed companies, will consider combining units and selling peripheral businesses to improve profitability, according to the people.

Possibilities that may be proposed include COFCO's cooking-oil producer China Foods Ltd divesting its confectionery business or merging with a sister company such as oilseed processor China Agri-Industries Holdings Ltd, they said, asking not to be identified as the information is private.