Sanyuan nets Sanlu assets for 616m yuan
By Ding Qingfen | China Daily | Updated: 2009-03-05 07:54
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A worker checks a bag of Sanyuan brand milk produced at a plant originally owned by Sanlu in Shijiazhuang, Hebei province. CFP |
Beijing Sanyuan Food Co Ltd (Sanyuan) yesterday successfully won the bidding for part of the assets of Hebei Sanlu as expected at an auction price of 616.50 million yuan, the largest case of its kind in China's dairy industry. This marks a substantial step forward in the company's five-month long preparation for the acquisition deal.
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