We advised Yili, the largest dairy company in China, on the takeover and delisting of ZhongDi from the HKEX

Davis Polk advised Inner Mongolia Yili Industrial Group Co., Ltd on the privatization of China ZhongDi Dairy Holdings Company Limited (HKEX: 1492), by way of mandatory general offer and compulsory acquisition, with a total consideration valued at approximately HK$1.66 billion. CLSA Capital Markets Limited acted as exclusive financial adviser for the privatization. ZhongDi Dairy announced on Friday, June 25, 2021 that the compulsory acquisition had been completed and the listing of its shares on the Stock Exchange of Hong Kong Limited has been withdrawn with effect from 9:00 a.m. June 28, 2021.

Yili Group is the largest dairy company in China, ranked among the world’s most successful dairy companies and consecutively ranked No. 1 in the Asian dairy industry in the past several years. Yili Group is listed on the Shanghai Stock Exchange (SSE: 600887). ZhongDi Dairy is a modern agricultural and animal husbandry enterprise which is mainly engaged in dairy farming in China.

The Davis Polk capital markets team includes partner Yang Chu and associates Yue (Jenny) Yin and Edwin Lee. Associate Zhuoran (Michael) Xu is providing M&A advice. Members of the Davis Polk team are based in the Hong Kong and Beijing offices

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