Moody's: Mengniu's general offer for China Modern Dairy is credit negative
Hong Kong, January 06, 2017-- Moody's Investors Service says that China Mengniu Dairy Company Limited's announcement of that it will purchase an increased stake in and general offer for China Modern Dairy is credit negative, but will not immediately impact its Baa1 issuer and senior unsecured ratings or stable outlook. On January 5, Mengniu announced that it will purchase an additional 16.7% stake in China Modern Dairy from Success Dairy II for HKD1.87 billion.
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