DEALS
Zhong Lun Advises Yashili on Privatization and Special Deals
Zhong Lun Advises Yashili on Privatization and Special Deals
On July 5, 2023, Yashili International Holdings Ltd. (“Yashili") announced that China Mengniu Dairy Company Limited (“Mengniu") (HKSE: 2319), Yashili’s controlling shareholder, had completed the privatization of Yashili by way of a scheme of arrangement under Cayman law. Yashili is a leading domestic infant formula producer with international presence that focuses on the production and sale of premium infant formula and nutrition food.
Through the privatization, Yashili’s shareholders (Mengniu and its subsidiaries excluded) would be entitled to an amount calculated at the cancellation price of HKD 1.20 per share in cash. The total valuation of the privatization is approximately HKD 1.37 billion (USD 174 million).
The privatization was part of a series of special deals between Mengniu and Danone to unwind their existing relationships in China.
Zhong Lun acted as the Hong Kong legal adviser to Yashili in the transactions. This project was led by partner Jaycen Liao. Team members also included Kelvin Chiu and Bingxin Zhang.
