US Private equity firm KKR & Co (KKR.NYSE) has raised around US$80 million (RMB491.7 million) after selling its final stake in China Modern Dairy Holding (1117.HKG), Reuters reported, citing an unnamed source. KKR sold around 168 million shares at RMB2.93 per share versus Monday’s closing price of RMB3.05. China Modern Dairy announced interim after tax profit for the six months ended 30 June of RMB545 million (US$88.7 million), an increase of more than three times on the previous year. KKR initially bought stakes in China Modern Dairy after the country’s milk industry was battered by a 2008 scandal involving chemical-laced products. KKR paid RMB922 million for a 34.5% stake.