COFCO And Hopu In 20% Mengniu Purchase

As it continues its efforts to bounce back from 2008's damaging melamine scandal, Chinese dairy major Mengniu Dairy has announced the sale of a 20% stake in its business to state-owned food giant China National Cereals, Oils & Foodstuffs Import & Export Corp (COFCO) and investment fund Hopu Investment Management. The HKD6.12bn (US$789.7mn) deal will dramatically lift Mengniu's investment capabilities and enable the company to play a major role in the modernisation and consolidation that has stemmed from the disaster of

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