Hogan Lovells has advised UBS AG (“UBS”) as lead financial adviser and Standard Chartered Bank (Hong Kong) Limited (“Standard Chartered Bank”) as joint financial adviser to China Mengniu Dairy Company (“Mengniu”) on its voluntary general offer for Hong Kong-listed Yashili International Holdings (“Yashili”), one of the largest domestic pediatric milk formula producers and retailers in China. The cash and share offer values Yashili at HK$12.64bn (US$1.63bn).
The offer is for all outstanding shares in Yashili not already owned by Mengniu.
Mengniu is one of the leading and biggest dairy product manufacturers in China. The acquisition enables both parties to leverage on each other’s capabilities and resources in order to further penetrate the growing pediatric milk formula market in China.
Commenting on the transaction, Head of Asia Corporate Jamie Barr said,
“We are delighted to be working again with UBS, and now Standard Chartered Bank as well, on another headline public M&A transaction in Hong Kong, which underscores the strength of our practice in this area.”
The Hogan Lovells corporate team was led by Jamie Barr and supported by consultant Charles Butcher and trainee lawyer Vanessa Fullerton. Banking partner Gary Hamp advised on the banking elements of the transaction.
