China Modern Dairy buys KKR, CDH $245m JV stake
KKR and CDH Investments have agreed to sell their stake in Success Dairy to China Modern Dairy Holdings (CMDH) in exchange for $HK1.9 billion ($245 million) of CMDH stock.
CMDH will issue 477 million shares to KKR and CDH as payment for the transaction. According to a regulatory filing, the price for the shares has been set at HK$4 each. Once the deal has concluded, CMDH...
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