King & Wood Mallesons acted for New Hope Dairy in its approximately RMB710 million acquisition and subscription of the 9.28% issued shares of the Hong Kong-listed China Modern Dairy Holdings.
China Modern Dairy is the largest modern dairy farming operator and fresh raw milk producer in China in terms of its herb size and milk yield. New Hope Dairy is a leading regional dairy products supplier in China, with its shares listed on the Shenzhen Stock Exchange.
Speaking of the transaction, Gary Lock, partner of the Hong Kong office said: “We are pleased to have advised on the strategic cooperation of these two market leading companies in the dairy industry. This closing complements our cross-border M&A capability and our deep understanding of the domestic and international regulatory landscape. Leveraging our global network will enable us to continue and play a key role for our Chinese clients as we advise on their complex transactions involving multiple jurisdictions.”
The KWM Chengdu and Hong Kong team was led by partners Liu Feng and Gary Lock, with support from counsel Ruth Lau, senior associates Yang Wei and Cai Li and associate Sammy Ng.