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China’s Dairy Firm Yili Will Acquire New Zealand’s Westland Milk

March 19, 2019: 12:00 AM EST
A subsidiary of China’s state-owned dairy company Yili Group will acquire Westland Milk Products of New Zealand for $403 million. A company executive said the proposed transaction would be “the best available outcome” for shareholders, the price being “attractive … to the Westland shares’ nominal value.” The company decided to explore ownership options when it couldn’t deliver competitive milk pay-out in recent years. Hongkong Jingang Trade Holding, a subsidiary of Yili, will carry out the acquisition. Yili has been in New Zealand since 2013 when it acquired Oceania, the South Canterbury-based dairy company.
Jules Scully, "Yili set to acquire Westland Milk Products in deal worth $403m", FoodBev Media , March 19, 2019, © FoodBev Media Ltd
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