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Chinese Dairy Giant Acquires NZ's Westland

02 August 2019

CHINA - China's Inner Mongolia Yili Industrial Group Company Limited announced Thursday the completion of the transaction of the acquisition of Westland Co-operative Dairy Company Limited, New Zealand's second-largest dairy co-operative.

Yili Group's wholly-owned subsidiary Hong Kong Jin Gang Trade Holding Limited and Westland announced the news at an equity transfer ceremony held at Auckland Museum. The event marked the official completion of Yili's acquisition of Westland.

Yuefeng , Economic and Commercial Counsellor of the Chinese Embassy in New Zealand,said this acquisition proves once again that China and New Zealand have been sticking to pioneering vision and spirit in the history of bilateral relations.

"It also gives great confidence to Chinese investors who are looking for opportunities of cooperation in New Zealand. The choices we make today will not only influence our own development, but the long-term development of our relations and the benefit for our people," Huang said.

"The potential of China-New Zealand economic and trade cooperation is more than traditional cooperation. It can be extended to areas such as infrastructure, high-technology, new energy and climate change. With our joint efforts, more and more successful cooperation will be right in front of us in the near future," Huang added.

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Source: Xinhua Online

TheCattleSite News Desk

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