date:Jun 19, 2013
China Mengniu Dairy Co Ltd (2319.HK) signed a second takeover deal in a month on Tuesday, offering to buy Carlyle-backed Yashili International Holdings Ltd in a deal worth about HK$12.5 billion ($1.6 billion) as part of a plan to expand its milk powder business.
The deal with Yashili (1230.HK), which sources all of its products from New Zealand, marks the latest step by China's milk industry to consolidate the market after several tainted milk scandals tarnished the fragmented sector.
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