Financial Times, 6 Jul 2009, Sundeep Tucker
China Mengniu Dairy, one of the mainland companies caught up in last year’s toxic milk scandal, is to receive a $790m investment to help transform its operations.
The Hong Kong-listed company announced on Monday that it would raise HK$6.1bn ($790m) from the equal sale of existing and new shares to a consortium comprising China National Oils, Foodstuffs and Cereals Corp (Cofco) and Hopu Investment Management.
Hopu is a mainland Chinese fund backed by Temasek, Singapore’s state investment agency, and Goldman Sachs.
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