date:Nov 04, 2013
Tingyi will hold a 45 percent stake and Wakodo the rest, is awaiting approval from relevant authorities, Tingyi said in a statement on the Hong Kong stock exchange.
With history of 107 years, Wakoda manufactures infant and follow-up formula, baby foods, beverage for babies, as well as prepared foods for the elderly.
Foreign firms control around 40 percent of the baby formula market in China. Among foreign brands, Mead Johnson Nutrition Co holds the biggest share, followed by Nestle and Danon