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China: Reports highlight recent M&A activity

By  |  June 26, 2013

Reports highlighted recent merger activity within China this week, which included juicing company China Huiyuan Juice Group selling its subsidiary after posting a significant loss for the unit in 2012. The subsidiary, Shanghai Huiyuan, was sold to Uni-President china Holdings, which manufacturers instant noodle and beverage products. Further, reports say dairy company China Mengniu Dairy Co is welcoming the government’s recent efforts to consolidate the milk power market as China Mengniu recently issued a bid to acquire a 75.3 percent holding of Yashili International Holdings; reports say the deal was not likely to have been approved by regulators if its weren’t for the government agenda. Mengniu issued a bid of more than $1 billion for the buyout earlier this month. The nation will no longer accept new entrants into the infant formula market, a decision that went into effect last week.

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