Carlyle Group, the US private equity fund, yesterday unveiled a substantial strategic investment in one of China's leading milk powder producers, underscoring rising foreign involvement in the sector.
The fund has taken a 17.3 per cent stake in Yashili, a family-owned company based in the southern province of Guangdong, which specialises in infant formula milk and is a top-three national producer.
Further financial details were not disclosed. The investment was made through Carlyle Asia Partners, a fund that typically spends between $100m and $200m on individual deals.
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