date:Nov 04, 2013
The deal comes at a time when the Chinese government is cracking down on corruption in the infant milk formula sector, a $12.4 billion market expected to double by 2017, and when Japan's Meiji Holdings Co Ltd is pulling out of China due to strong competition.
The joint venture of Tingyi (Cayman Islands) and Wakodo Co Ltd, Asahi Group Holdings Ltd's unit that makes baby food, will have registered capital of $5 million and will mainly be marketing and selling baby products.
The venture, in which