Mengniu Dairy (HKG:2319) 5.9% stocks transferred to Arla Foods

   Date:2012/06/18

China Mengniu Dairy (HKG:2319) has been informed by HOPU Investment Management Co., Ltd. (HOPU) that Ecostar Investment Limited, a wholly-owned subsidiary of HOPU USD Master Fund I, L.P., has on 15 June 2012 entered into a share purchase agreement with Arla Foods Amba to sell 30% of the total issued shares of COFCO Dairy Holdings Limited (COFCO Dairy) to Arla Foods (the HOPU Sale), China Mengniu Dairy announced.

COFCO Dairy is the sole shareholder of COFCO Dairy Investments Limited, which in turn holds approximately 19.66% of the total issued shares of China Mengniu Dairy.

Pursuant to the share subscription, HOPU undertook not to sell all or any shares in COFCO Dairy for a period of three years after the completion of the share subscription (which took place on 27 July 2009).

China Mengniu Dairy's board of directors resolved to consent to HOPU selling the shares in COFCO Dairy to Arla Foods prior to the expiry of the lock-up period, subject to Arla Foods providing certain lock-up undertakings for a period of three years after the completion of HOPU Sale in favour of China Mengniu Dairy.

China Mengniu Dairy also announced that, on 15 June 2012, it signed strategic cooperation agreements (SCAs) with Arla Foods pursuant to the tao parties will form a long-term strategic cooperation relationship in the dairy sector in certain geographical areas.

Pursuant to the SCAs, China Mengniu Dairy will be the exclusive strategic partner for Arla Foods in China and will develop certain consumer dairy products bearing Arla Foods' brands in China and various other selected countries whereas Arla Foods will be the exclusive source of supply of, and will supply to China Mengniu Dairy with priorities, various consumer products to be imported by China Mengniu Dairy into China and various other selected countries. Arla Foods will also provide technical, management, marketing and innovation advice to China Mengniu Dairy in such territories.

China Mengniu Dairy also said that, on 15 June 2012, it has been appointed by the Ministry of Agriculture of the PRC to participate in the strategic cooperation with the Ministry of Food, Agriculture and Fisheries of the Kingdom of Denmark, whom has appointed Arla Foods to establish the China-Denmark Milk Technology and Cooperation Center. China Mengniu Dairy will cooperate with Arla Foods to establish the China-Denmark Milk Technology and Cooperation Center.
 

 

Source:chinesestock.org

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