CRI听力:Inner Mongolia Yili buys 37 percent stake of Shengmu Group
2016-11-03来源:CRI
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Chinese dairy producer Yili has become the largest shareholder of a rival that specializes in organic dairy products.
Yili has spent nearly 5.3-billion yuan, or close to 800-million US dollars, to purchase a 37-percent stake in Shengmu Organic Milk.
With the deal, Yili becomes Shengmu's primary shareholder.
The Inner Mongolia-based Yili says it plans to purchase the outstanding shares of Shengmu at some point, in a deal worth 6.1-billion yuan.
Shengmu Organic Milk is the largest organic dairy producer in China.
It earned net profits of 400-million US dollars through the first half of this year.
For more on this, we are joined by CRI Financial Analyst Cao Can.
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