Also FDR ( Ops, KKR & BOA) like investment in Chinese cows.
June 15 (Bloomberg) -- KKR & Co., the private equity company of Henry Kravis and George Roberts, invested $150 million in Chinese milk supplier Ma Anshan Modern Farming Co., two people familiar with the matter said. KKR completed a series of investments in the company, known as Modern Dairy, the New York-based firm said today, without providing financial details. The people with knowledge of the price declined to be identified as it hasn’t been announced. The milk supplier, based in Anhui province, has about 40,000 dairy cows and produces more than 150,000 tons of raw milk a year, KKR said. The company was not linked to a contaminated milk scandal in China last year that killed at least six babies and sickened 300,000 children. “We have brought in not only capital, but more importantly, international best practices and expertise in the dairy farming industry that will help Modern Dairy develop world-class facilities,” David Liu, KKR’s head for Greater China, said in the statement. KKR bought at least 20 percent of Modern Dairy, one of the people said, declining to be more specific. Peter Mckillop, a spokesman for KKR, declined to comment on the size of the deal.