BEIJING (TheStreet) -- The city of Nanjing, China, is giving Herbalife (HLF) investors good reason to stay positive despite the company's ugly dispute with hedge fund manager and investor activist Bill Ackman.
The city government Tuesday announced a deal with Herbalife paving the way for the U.S. company to build "a leading, global scale production base" at the Nanjing Jiangning High-Tech Industrial Park.
Terms were not disclosed, and Herbalife did not make an announcement. But the government's Web site said the plant will be "heavily invested" and should open in late 2015.
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