The 15-month reprieve is far less than the five-year private hire permit the company had previously or the 18-month approval it originally sought at the hearing.
The private equity owners of Belle International Holdings Ltd., the biggest women’s shoe retailer in China, are considering a spinoff of its sportswear distribution business.
While Toys “R” Us wasn’t able to salvage its U.S. operations, the Asia Pacific business has continued to increase revenue.
The sale has also drawn interest from private equity firms and a health-care arm of Fosun International Ltd.
Qu Toutiao has no connection to the more popular Jinri Toutiao run by Beijing ByteDance Technology Co.
Any deal would add to the $13.2 billion of announced food-related acquisitions involving Chinese firms over the last 12 months.
Baring PE Asia, Taiwan’s Cathay Financial Holding, and South Korea’s Shinhan Financial Group are among bidders for a stake in PT BFI Finance Indonesia.
Grail may seek to raise as much as $500 million this year.
A deal could give Toys “R” Us Asia a valuation of at least $1 billion.
If successful, it will be the biggest dollar buyout pool raised by the firm, which started in 2005 with $20 million from Yale University’s endowment.