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Shangdong Hualian Mining to purchase two large dairy companies in Jilin

BEIJING
2015-11-12 10:26

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Shangdong Hualian Mining Holdings Co., Ltd (600882.SH) will purchase the full equities of the two largest dairy companies in northeast China's Jilin province, i.e. Ground Dairy Industry Co., Ltd and Jilin Dairy Co., Ltd by additional equity offering, the company announced on Thursday.

According to the announcement, the contract is estimated to cost 800 million yuan. And Shangdong Hualian Mining will also make a private placement to Mengniu Dairy Co., Ltd (02319.HK) to fund extended reproduction including the reconstruction of a dairy processing center for Ground Dairy Industry and a cheese processing project for Jilin Dairy. The acquisition will be submitted to the general meeting of shareholders for deliberation and the review of China Securities Regulatory Commission (CSRC).

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