VC investors divest Mengniu stake

Private equity investors take advantage of liquidity driven markets to offload a stake in Mengniu Dairy.

Three private equity shareholders of Hong Kong listed Mengniu Dairy completed a 168 million share secondary offering yesterday December 16 raising $131 million under the lead management of Morgan Stanley. The three - MS Dairy an offshoot of MS Capital Partners, CDH China and Actis China - offered 57 million existing secondary shares and 111 million shares that represented 30% of a convertible bond, which had become excerciseable on December 10.

The deal was marketed...

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