Mengniu To Pay $1.6B For Carlyle-Backed Chinese Milk Co.

Law360, New York (June 18, 2013, 1:47 PM EDT) -- China Mengniu Dairy Co. Ltd. has agreed to buy Chinese milk company Yashili International Holdings from its management and Carlyle Group LP for roughly HK$12.5 billion ($1.6 billion), its second takeover deal in the past two months, Mengniu said Tuesday.

Carlyle and Zhang International Investment Ltd. — the firm of Yashili chairman Zhang Lidian — have agreed to the terms of the deal. Mengniu is offering Carlyle, Zhang and Yashili's minority shareholders HK$2.82 in cash per share, a 9 percent premium to the stock's closing price...
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