Li & Fung said Wednesday it is talking to third parties about a possible sale of its consumer and health-care distribution businesses.

Earlier Wednesday, Bloomberg reported that Li & Fung has been talking with potential buyers for its LF Asia business, which distributes consumer and health-care products in greater China and Southeast Asia. The deal could value LF Asia at $300 million to $400 million, according to the report.

Li & Fung said it is “evaluating strategic alternatives” for the business units.

“The Company is in discussions with independent third parties in relation to a possible transaction involving such businesses,” the company said, adding that it has not yet entered into any agreements.