Chinese milk makers must be quietly pleased about the country’s latest dairy scandal, since for once the news centers on a foreign and not a domestic firm. In this case the news has been flowing nonstop over the weekend, following a warning from New Zealand dairy giant Fonterra (New Zealand: FCZ) that some of its milk powder contains bacteria that can cause botulism, a rare but sometimes fatal illness. Fonterra discovered the bacteria in some of its powder that it sells to other dairy companies, including at least 5 Chinese companies. China has halted the import of all milk powder from New Zealand and Australia until the situation is resolved. (English article) Read Full Post…
Mengniu’s (HKEx: 2319) new announcement of its third major tie-up in the last month marks the latest step in an important and necessary consolidation for a battered Chinese dairy sector that has been in turmoil for the last 5 years. This kind of retrenchment, which includes a healthy dose of participation by foreign firms, is exactly the kind of medicine that China needs to restore consumer confidence to its fragmented and often unruly food sectors. Read Full Post…
The following press releases and media reports about Chinese companies were carried on June 19. To view a full article or story, click on the link next to the headline.
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Mengniu (HKEx: 2319) Adds Another Deal With Offer For Carlyle’s Yashili (English article)
EU Trade Chief To Discuss Solar Dispute In Beijing (English article)
Software Developer SkyTech to IPO in HK – Source (English article)
Qihoo 360 (NYSE: QIHU) To Roll Out Portable Wi-Fi Router Device (Chinese article)
Huawei, Responding To Rumors, Says No Plans To Buy Nokia (Helsinki: NOK1V) (English article)
After 2 previous failed attempts to tap the China market, French food giant Danone (Paris: DANO) is trying yet again through a new major tie-up that includes a joint venture and equity stake in tainted dairy giant Mengniu (HKEx: 2319). This time I have to commend Danone on its choice of partners and approach in the new tie-up, which seem to show it’s learned its lesson from previous disastrous partnerships with 2 other locally controlled entities. Accordingly, the third time could finally be the charm for Danone as it looks for a success in the huge but often problematic Chinese food market. Read Full Post…
The following press releases and media reports about Chinese companies were carried on May 21. To view a full article or story, click on the link next to the headline.
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Goldman Exits China’s ICBC (HKEx: 939), 7 Years And Billions Later (English article)
The following press releases and media reports about Chinese companies were carried on May 9. To view a full article or story, click on the link next to the headline.
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EU Agrees To China Solar Panel Duties In Boldest Move Yet (English article)
Sohu (Nasdaq: SOHU) Puts Sogou Search Up For Sale – Source (Chinese article)
The following press releases and media reports about Chinese companies were carried on August 15. To view a full article or story, click on the link next to the headline. ══════════════════════════════════════════════════════
Mongolia-Focused Miner SouthGobi (HKEx: 1878) Expects Chalco to Drop Takeover Bid (English article)
Mengniu (HKEx: 2319) in Buyout Talks With KKR-backed China Modern Dairy: Report (English article)
Jingdong Mall to Maintain Zero Gross Profit on 3C for 3 Years (English article)
