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February 7, 2019

China dairy group Yili given more time for Fauji Foods bid

Inner Mongolia Yili Industrial Group Co. has been given more time to come up with a public offer for a dairy business in south Asia. 

By Dean Best

Inner Mongolia Yili Industrial Group Co., one of China’s largest dairy businesses, has been given more time to come up with a public offer for Pakistan’s Fauji Foods.

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Yili first disclosed its interest in acquiring the Pakistan dairy firm Fauji Foods, a subsidiary of Fauji Fertilizer Bin Qasim Ltd., to the Shanghai Stock Exchange in July. At the time, Yili was seeking to buy a 51% stake in the company, which markets a range of dairy and juice products under the brand name Nurpur.

In a notice filed with the Pakistan Stock Exchange this week, Fauji Foods said the country’s Securities and Exchange Commission had granted Yili a 90-day extension until 29 April to put in a public offer for the Lahore-based business.

Formerly Noon Pakistan Ltd., Fauji Foods’ origins date back to 1966. It owns a plant based in Bhalwal in the Sargodha district producing butter, cheese, UHT milk, pasteurised milk, tea whitener, flavoured milk, cream, ghee, honey and jam.   

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Free Report
img

How is technology having an impact on Consumer buying behavior?

As the world rapidly becomes more connected, it is important for brands to understand the impact that improved technology is having on consumer purchasing behaviors. To react effectively, brands must know how to engage with increasingly digitally savvy consumers. GlobalData’s latest Trend Tracker report provides an analysis of Digital Lifestyles – one of GlobalData's top consumer trends for 2022. The report includes an overview of how digital lifestyles are evolving, including the significant impact that the COVID-19 pandemic had on accelerating digitalization, and how this trend is emerging across different Consumer sectors. Key features included in the report:
  • A breakdown of the trend’s prominence across sectors
  • Insights into consumer online penetration, preferred electronic devices and engagement
  • The key drivers and challenges impacting the digital lifestyles trend
  • A spotlight on key innovations set to reshape the consumer landscape
  • Analysis of what’s next for digital innovations and how brands can leverage the trend
Download this report to keep in touch with the more digital consumer.
by GlobalData
Enter your details here to receive your free Report.

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