Most costly takeover boosts China's dairy restructuring
Updated: 2013-06-20 09:37
(Xinhua)
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In 2012, testers passed all but 0.77 percent of Chinese baby milk products as qualified for sale, while 1.13 percent of foreign brands failed to reach the standard, according to examinations by China's General Administration of Quality Supervision, Inspection and Quarantine.
Sun Yiping, president of Mengniu, described Tuesday's deal as a win-win takeover of Yashili that will provide better and safer dairy products.
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