Taiwan food giant Ting Hsin International Group has announced plans to sell its shares in the Taipei 101 skyscraper1 to raise cash following a series of food safety scares.
台湾食品巨头顶新国际集团宣布计划出售台北101大楼的股份以集资解决一系列的食品安全恐慌。
Ting Hsin has signed a deal worth around 770 million U.S. dollars with Malaysia's IOI Properties to sell about 37 percent of its stake in the Taipei Financial Center Corporation, which operates the building.
The proceeds from the sale will be used to
fulfill2 the company's pledge to donate 100-million U.S. dollars to a food safety fund and other charities, as well as to pay off some of its bank loans.
Ting Hsin made the pledge after it triggered public
outrage3 and a Taiwan-wide
boycott4 of its products after it being
implicated5 in three food safety scandals on the island in less than a year.