China Dairy Giant Drops $410M To Boost Stake In Supplier

Law360, New York (May 8, 2013, 5:33 PM EDT) -- China Mengniu Dairy Co Ltd., China’s largest milk products supplier has reached a $410 million deal to purchase more than a quarter interest in China Modern Dairy Holdings Ltd., the biggest dairy farming company in the country, the company said Wednesday.

In a statement on its website, Mengniu said it will pay about $310 million for 984 million shares in Modern Dairy, representing approximately 20 percent of the company, from Advanced Dairy, a subsidiary of KKR Asian Fund LP, itself a subsidiary of New York City-based...
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