Key Developments: China Mengniu Dairy Co Ltd (2319.HK)

2319.HK on Hong Kong Stock

31.30HKD
24 Dec 2014
Price Change (% chg)

HK$0.45 (+1.46%)
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Latest Key Developments (Source: Significant Developments)

Hunan Dakang Pasture Farming Co Ltd announces UHT milk project agreement with China Mengniu Dairy and Miraka Limited
Thursday, 20 Nov 2014 10:48pm EST 

Hunan Dakang Pasture Farming Co Ltd:Signed ultra high temperature (UHT) milk project agreement with China Mengniu Dairy and Miraka Limited.To jointly invest in plants of Miraka Limited to improve productivity and jointly develop new products.China Mengniu Dairy confirms Miraka Limited as supplier.  Full Article

China Mengniu Dairy Co Ltd does not recommend interim dividend
Wednesday, 27 Aug 2014 10:49am EDT 

China Mengniu Dairy Co Ltd:D0 not recommend the payment of an interim dividend for the six months ended June 30, 2014.  Full Article

China Mengniu Dairy Co Ltd recommends final dividend
Tuesday, 25 Mar 2014 06:16pm EDT 

China Mengniu Dairy Co Ltd:Recommends payment of a final dividend of CNY0.2 (2012: CNY0.16) per ordinary share for FY 2013.To be paid on or about Jun 23 to shareholders of record on Jun 12.  Full Article

WhiteWave Foods Co to form joint venture with China Mengniu Dairy Co Ltd
Sunday, 5 Jan 2014 06:00pm EST 

WhiteWave Foods Co:Says that it has entered into a joint venture agreement with China Mengniu Dairy Co Ltd, a Chinese dairy company.Says the joint venture intends to manufacture, market and sell a range of nutritious products in China.Says the joint venture has also executed an agreement to purchase Yashili Zhengzhou, a subsidiary of Yashili International Holdings Ltd (Yashili).Says Zhengzhou's primary asset is a production facility currently under construction in China, where the joint venture intends to manufacture its products.Says Mengniu is the majority owner of Yashili.Says under the terms of the agreement, WhiteWave will own a 49 pct. stake in the venture and Mengniu will own a 51 pct. stake.Says the purchase price for Zhengzhou is expected to be about $85 mln, including about $62 mln for the purchase of equity and the balance for the repayment and assumption of debt and other obligations.Says each joint venture party's share of the purchase price for Zhengzhou will be consistent with its ownership interest in the venture.Says the parties expect to make additional investments to support the start-up and commercialization of the joint venture.Says the formation of the joint venture is subject to various governmental approvals in China which are expected to be obtained in the first half of 2014.  Full Article

China Mengniu Dairy Co Ltd Announces Issuance Of USD500,000,000 3.50% Bonds Due 2018
Thursday, 21 Nov 2013 07:00pm EST 

China Mengniu Dairy Co Ltd announced that on November 21, 2013, the Company entered into the Subscription Agreement with Standard Chartered Bank, Deutsche Bank AG, Singapore Branch, The Hongkong and Shanghai Banking Corporation Limited and Barclays Bank PLC, in connection with the issue of USD500,000,000 3.50% Bonds due 2018. The estimated net proceeds of the Bonds Issue, after deduction of the underwriting discounts and commission and other estimated expenses, will amount to approximately USD493 million. The Company intends to use the net proceeds to refinance outstanding indebtedness of the Group, including certain loan facilities to which some joint bookrunners are lenders. The Offer Price of the Bonds will be 99.456% of the principal amount of the Bonds. The Bonds will bear interest from and including November 27, 2013 at the rate of 3.50% per annum, payable semi-annually in arrear.  Full Article

China Mengniu Dairy Co Ltd Announces Chief Financial Officer Change
Monday, 2 Sep 2013 08:15pm EDT 

China Mengniu Dairy Co Ltd announced a change of Chief Financial Officer of the Company. Mr. Wu Jingshui, has resigned from the office of Chief Financial Officer with effect from September 1, 2013 and will remain as an executive director of the Company and a vice-president of finance of the Group. Ms. Wu Wennan has been appointed as the Company's Chief Financial Officer with effect from September 1, 2013.  Full Article

China Mengniu Dairy Co Ltd Does Not Recommend Interim Dividend
Wednesday, 28 Aug 2013 10:59am EDT 

China Mengniu Dairy Co Ltd announced that the directors do not recommend the payment of an interim dividend for the six months ended June 30, 2013 (six months ended June 30, 2012: Nil).  Full Article

China Mengniu Dairy Co Ltd To Buy Majority Stake In Baby Formula Maker Yashili International Holdings Ltd-DJ
Monday, 17 Jun 2013 11:55pm EDT 

Dow Jones reported that China Mengniu Dairy Co Ltd is buying a majority stake in smaller rival Yashili International Holdings Ltd., which has market capitalization of USD1.5 billion, in the latest move by the mainland milk giant to bulk up its stakes in Chinese dairy firms. Yashili, which specializes in making baby formula, is 24.4% owned by U.S. private equity firm Carlyle Group L.P. (CG).  Full Article

Danone SA Announces Joint Venture and Equity Investment Agreement with COFCO and China Mengniu Dairy Co Ltd
Sunday, 19 May 2013 08:00pm EDT 

Danone SA announced COFCO, a State-owned food company in China, has signed an agreement with Danone, pursuant to which the two parties will form a joint-venture. COFCO has agreed to sell 148,014,022 shares in China Mengniu Dairy Co Ltd to the joint-venture. COFCO and Danone will own 51% and 49% respectively in the newly formed company. After the transaction, COFCO will continue to be the single largest shareholder in China Mengniu. Danone will become a strategic shareholder in China Mengniu, owning an indirect interest of approximately 4% at the initial stage, with an aim to increase the interest in China Mengniu based on market conditions in the future. In addition, Danone and China Mengniu Dairy Co Ltd have signed a framework agreement to establish a joint-venture for the production and sales of chilled yogurt products in China, Danone will own 20% and China Mengniu 80% of the new joint-venture in China. Danone will invest approximately EUR 325 million as a result of the two above cooperation projects.  Full Article

China Mengniu Dairy Co Ltd Buys KKR & Co LP and CDH Investments Stake In China Modern Dairy Holdings Ltd-Reuters
Wednesday, 8 May 2013 03:37am EDT 

Reuters reported that China Mengniu Dairy Co Ltd's deal to buy a $410 million stake in China's unpasteurised milk producer is a strategic move to rebuild trust after a series of scandals left local brands' reputations in tatters. Mengniu, twice hit by accusations it sold tainted milk, said on Wednesday it would buy 26.92% of China Modern Dairy Holdings Ltd from private equity firms KKR & Co LP and CDH Investments. The deal will lift Mengniu's stake in China Modern to about 28%.  Full Article

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