US-based investment bank Morgan Stanley contributed US$18m of the US$26m paid by three outside investors for a 33 per cent stake in China's leading producer of dairy products, Mengniu Dairy Co, China Daily said.The other partners in the deal concluded in late December, were CGU-CDC China Capital Partners and Dinghui Investment.
Niu Gensheng, chairman of Mengniu, said that his company would relocate its sales research and development centres from Inner Mongolia to Beijing in June this year. Mengniu recorded Yn600m sales in 2001, and the chairman said the company was capable of attaining annual sales of Yn10bn by 2006.
You must log in to post a comment.