Carlyle to exit Yashili stake to China Mengniu Dairy
The Carlyle Group has agreed to sell its 24% stake in Yashili International to domestic rival China Mengniu Dairy for about HK$3 billion ($387 million). This is part of a Mengniu bid for a majority interest in Yashili - its second lateral investment in the last month.
According to a regulatory filing, Mengniu will buy 2.7 billion shares - representing 75.3% of Yashili - from majority shareholder Zhang International and CA Dairy, an entity owned by Carlyle Asian Partners...
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