Just a month after newly-formed pork giant WH Group pulled its planned $2bn Hong Kong IPO after failing to attract demand, the pork unit of Cofco - the giant Chinese state-owned food company - said it is teaming up with international investors to bulk up its business.
The group of investors comprises private equity house KKR, Baring Private Equity Asia, Hopu Investments and Boyu Capital.
Cofco Meat said this group will invest an undisclosed amount "to build and manage large-scale industrialized hog farms and meat processing plants in China."
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