date:Sep 24, 2013
China-based Modern Dairy, CDH Investments and global investment firm KKR have formed a new joint venture (JV) for the supply of raw milk to consumers across the country.
KKR, CDH and Modern Dairy will own 61.5%, 20.5% and 18% stakes in the JV.
As per the agreed terms, the JV will invest around $140m over the next 18 months for the development of the dairy farms in Shanghe county of Eastern China's Shandong province over a two-year period.
The new farms, which will have 10,000 cows each, will