US private equity giant The Carlyle Group and Shanghai Fosun High Technology, China’s largest privately-owned investment group, made a joint investment of around USD 100 million in the Guangdong-based milk powder maker Yashili Group last month, eyeing a recovery by the industry which was last year recked by large-scale production contamination. Carlysle and Fosun will become the second and third-largest shareholder of Yashili, holding a 17.3% stake and a 6% stake respectively. Yashili, founded in 1983, is a leading milk powder producer in China with a production value of RMB 3.8 billion (USD 556.7 million) last year and projecting value of RMB 4 billion (USD 586 million) this year.

China International Business Nov 2009

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