date:Jun 19, 2013
French dairy group Danone, the purchase will strengthen its foothold in the milk powder segment, which currently contributes less than 2 percent of its revenues.
Mengniu, twice hit by accusations it sold tainted milk, agreed last month to buy 26.92 percent of China Modern Dairy Holdings Ltd (1117.HK) from private equity firms KKR Co LP and CDH Investments.
That deal allowed Mengniu, whose liquid milk products rank first in China by sales volume, to ensure control over its milk supplies and wi