China DealBook
A Newsletter on Deal Making in China

By: ChinaDesk | January 06, 2017

A Newsletter on Deal Making in China

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Deal News

 

China Mengniu offers to buy out Modern Dairy for $826 million
China Mengniu Dairy Co Ltd has offered to buy out China Modern Dairy Holdings Ltd for $826 million in a deal that will help it secure a stable supply of raw milk. This follows China Mengniu's purchase of 965.47 million shares in Modern Dairy.

 

KKR and CDH Investments agreed to sell $241.5 million worth of shares in China Modern Dairy – which will see them fully exit a position they received when selling part of a greenfield cattle farming joint venture to Modern Dairy in 2015.

 

Modern Dairy gives Mengniu access to a plant in New Zealand and farms throughout China. Mengniu shares fell after the deal was announced Thursday morning...