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Mengniu Dairy To Receive Hopu Investment « Back
Muazzin Mehrban, July 2009
(06 July 2009)

China Mengniu Dairy, one of the companies caught up in the toxic milk scandal, is set to strike an $800m investment deal that it hopes will improve its management and operations. Hopu Investment Management, a mainland fund backed by Singapore’s sovereign wealth fund (SWF) Temasek and Goldman Sachs, will be making the offer as part of a consortium.

The consortium is thought to be acquiring 20 percent of the company and will become Mengniu’s largest shareholder. As part of the investment, the consortium will have at least one board member to help see through major changes in the target’s corporate governance and operations.

The investment is the latest of several in the sector, which is currently looking to modernise following a scandal in which 22 dairy companies were found guilty of selling products which contained high yields of industrial chemicals. According to the Financial Times, increased investment will allow China’s dairy sector to improve its quality control.

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