China Mengniu Dairy said on Wednesday it planned to buy 26.92 per cent of the country’s largest raw milk producer, KKR-backed China Modern Dairy Holdings Ltd, for HK$3.18 billion (US$409.8 million) to secure a long-term premium milk supply.
China Mengniu said it would buy an aggregate 1.296 billion shares of Modern Dairy from KKR-backed Advanced Dairy SPA and CDH Investment Advisory Private Ltd-backed Crystal Dairy SPA at HK$2.45 per share. Reported by S.China Morning Post 5 hours ago.
China Mengniu said it would buy an aggregate 1.296 billion shares of Modern Dairy from KKR-backed Advanced Dairy SPA and CDH Investment Advisory Private Ltd-backed Crystal Dairy SPA at HK$2.45 per share. Reported by S.China Morning Post 5 hours ago.