Bright Dairy to conduct first ever overseas acquisition

16:54, July 20, 2010      

Email | Print | Subscribe | Comments | Forum 

Shanghai Bright Dairy and Food Company stated on July 18 that it will acquire a 51 percent stake in Synlait Milk Limited, one of New Zealand's five independent milk processors. This is the first overseas acquisition launched by a Chinese dairy company.

According to the agreement, Bright Dairy will buy 26 million shares, or a 51 percent stake in Synlait Milk. Bright Dairy will spend a total of 382 million yuan to buy the shares at the price of 3.15 New Zealand dollars per share.

It is said that with the sharp expansion of China's dairy market, China's dairy industry has faced some severe challenges such as milk source shortages and unstable milk quality. Getting a stable supply of premium milk from New Zealand can partly account for Bright Dairy's move.

By People's Daily Online

(Editor:黄蓓蓓)

  • Do you have anything to say?

双语词典
dictionary

  
Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • The graphics shows the launch procedures of the carrier rocket of Tiangong-1 space lab module, Long March-2FT1 on Sept. 29, 2011. (Xinhua/Lu Zhe)
  • Image taken from Beijing Aerospace Control Center shows a Long March-2FT1 carrier rocket loaded with Tiangong-1 unmanned space lab module blasting off from the launch pad at the Jiuquan Satellite Launch Center in northwest China's Gansu Province, Sept. 29, 2011. (Xinhua)
  • On Sept. 28, tourists travel around the Mingshashan Scenic Area in Dunhuang, Gansu province by camel. With the National Day vacation right around the corner, more and more tourists from home and abroad are going to Dunhuang. Riding on a camel, they travel in the desert to enjoy the cities rare form of natural scenery. (Xinhua/Zhang Weixian)
  • Chinese forest armed forces work together with forest firefighters on Sept. 28. (Xinhua/Chai Liren)
  • Photo taken on Sept. 29, 2011 shows strong wind blows trees in Sanya, south China's Hainan Province. Typhoon Nesat heads towards south China and is moving at an average wind speed of 20 km per hour toward the west coast of China's Guangdong Province. (Xinhua/Hou Jiansen)
  • A fallen tree is seen on a road in Qionghai, south China's Hainan Province, Sept. 29, 2011. Typhoon Nesat was predicted to land in Hainan later Thursday, bringing heavy rainfalls to the island. (Xinhua/Meng Zhongde)
Hot Forum Discussion