Shanghai Milkground Food Tech Co., Ltd (SHSE:600882) agreed to acquire Inner Mongolia Mengniu Cheese Co., Ltd. from Inner Mongolia Mengniu Dairy (Group) Co., Ltd. for approximately CNY 450 million on June 12, 2024. A cash consideration of CNY 447.68 million will be paid by Shanghai Milkground Food Tech Co., Ltd. As part of consideration, CNY 447.68 million is paid towards common equity of Inner Mongolia Mengniu Cheese Co., Ltd. The transaction is subject to approval of offer by acquirer board. The deal has been approved by the board. The deal has been approved by shareholders of Shanghai Milkground Food Tech Co., Ltd.
Shanghai Milkground Food Tech Co., Ltd (SHSE:600882) completed the acquisition of Inner Mongolia Mengniu Cheese Co., Ltd. from Inner Mongolia Mengniu Dairy (Group) Co., Ltd. on June 28, 2024.