Carlyle takes a stake in China's livestock feed industry

The Carlyle Group pays $175 million for an 11.3% holding in CPP, the Chinese subsidiary of CP Group, Thailand's biggest conglomerate, with a purchase of convertible preference shares.

The Carlyle Group has made another move into the Chinese food industry with an agreement to buy a minority interest in CP Pokphand CPP, one of China's largest livestock and aqua feed producers. The US-based investment behemoth will pay $175 million for convertible preference shares representing an 11.3% stake from the Charoen Pokphand Group CP Group, Thailand's leading agro-industrial and food conglomerate, and the single biggest shareholder of CPP.

The acquisition, announced on Friday, follows...

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