摘要
COFCO, Hop. Buy 20% Stake in Mengniu COFCO （中粮集团）, China＇s largest food trader, and Hopu Investment Management （厚朴投资管理公司）, a private equity fund backed by Singaporean soveriegn wealth fund Temasek and Goldman Sachs, jointly paid HKD 6.1 billion （USD 790 million） for a 20% stare in Mengniu （蒙牛）, a large Chinese dairy company. The consortium will become the largest shareholder of Mengniu by purchasing both existing and new share offerings. The purchase, which is the largest ever deal in the Chinese food industry, will give COFCO the right to appoint three positions to Mengniu＇s board and belp the state-owned company to extend its industrial chain. In addition, the deal will ease the cash shortage at Mengniu, which posted a loss of RMB 900 million （USD 151.8） in 2008, primarily due to the melamine scandal in China.
