Paul Hastings Advises China ZhongDi on Its Proposed Privatization by Wholesome Harvest

Hong Kong – Paul Hastings, a leading global law firm, announced that it has advised China ZhongDi Dairy Holdings Company Limited (Stock Code: 1492.HK) (“China ZhongDi”) on the mandatory conditional cash offer by CLSA Limited, for and on behalf of Wholesome Harvest Limited (“Wholesome Harvest”), to acquire all the issued shares of China ZhongDi (the “Offer”).

The maximum aggregate amount payable by Wholesome Harvest to implement the Offer would be approximately HK$1.66 billion (US$212.79 million). Subject to the completion of compulsory acquisition, China ZhongDi will be privatized and will apply for the withdrawal of listing from the Hong Kong Stock Exchange.

China ZhongDi is principally engaged in business operations including raising and breeding dairy cows, producing and selling premium raw milk, importing and selling dairy cows of quality breeds and breeding stock, and import trading business in cows, alfalfa hay and other animal husbandry-related products. Earlier in 2015, Paul Hastings advised on its global offering and listing on the Main Board of the Hong Kong Stock Exchange.

Wholesome Harvest is a subsidiary of Inner Mongolia Yili Industrial Group Co., Ltd., a leading Chinese dairy company.

The Paul Hastings team was led by Raymond Li, global partner and chair of Greater China, and corporate partner Chaobo Fan, with support from associates Crystal Liu and Joanne Wong, legal manager Sharon Guo and trainee solicitor Helen Cheung.

At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.