Morgan Stanley to complete $147m China dairy take-private
Morgan Stanley Private Equity Asia (MSPEA) is on the cusp of completing a $147 million buyout of Chinese dairy producer Feihe International after the board accepted a bid from the PE firm in conjunction with the company’s chairman and CEO. It is the sixth take-private of a US-listed Chinese company to win approval in the last five months.
The chairman, You-Bin Leng, and an affiliate of Morgan Stanley Private Equity Asia III will pay $7.40 per share for all outstanding shares not currently owned by Leng. It represents a premium of 21.3%...
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