China Mengniu to buy 27pc of Modern Dairy for HK$3.18b

Dairy products maker China Mengniu Dairy said on Wednesday it planned to buy 26.92 per cent of China Modern Dairy Holdings for US$409.78 million (HK$3.18 billion) to secure a stable, long-term premium milk supply. China Mengniu said it would buy an aggregate 1.296 billion shares of Modern Dairy from third parties Advanced Dairy SPA and the Crystal Dairy SPA at HK$2.45 per share.

via Business feed http://www.scmp.com/business/money/market-snapshot/article/1232771/china-mengniu-buy-27pc-modern-dairy-hk318b