Morgan Stanley PE Unit Drops $147M On Chinese Food Co.

Law360, New York (March 6, 2013, 8:33 PM EST) -- Morgan Stanley's Asian private equity division has acquired Chinese food and nutrition company Feihe International Inc., which makes infant formula and food products, in a deal that values Feihe at $147 million, Feihe said Monday.

Feihe said it will be acquired by affiliates of Morgan Stanley Private Equity Asia in tandem with three of Feihe's senior executives led by chairman and CEO You-Bin Leng. MSPEA and Leng agreed to pay Feihe stakeholders $7.40 a share, a 21.3 percent premium over Feihe's closing price on the New...
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