Jingu Finance News | Mengniu Dairy (02319) has good performance, currently trading at HKD 13.2, up 3.45%, with a turnover of HKD 280 million.
Announcement: Shanghai Milkground Food Tech plans to acquire 100% equity of Inner Mongolia Mengniu Cheese Co., Ltd., held by Inner Mongolia Mengniu Dairy (Group) Co., Ltd. for RMB 448 million in cash/money market.
The announcement stated that this move is aimed at resolving the competition issue between Mengniu Cheese and Mioworld Cheese in the cheese business, further enhancing the profitability and core competitiveness of Mioworld Cheese, and consolidating its leading position in the cheese category.