18 March 2008 - Two investment firms, CDH Investments and New Horizon Capital, have reportedly invested USD 195 million for a 29.5% stake in Hebei-based Meihua Monosodium Glutamate Group Co., Ltd.
It is understood that CDH will hold a 15% interest through a USD 100 million investment, while New Horizon Capital is expected to become a 14.5% shareholder with its USD 95 million offer.
The transaction, as reported by Asian financial reports, is subject to approval of the Chinese Ministry of Commerce.
Established in 2002, Meihua MSG is a leading corn processor with a reported annual output of 600,000 tons. The company also has an annual starch production capacity of 400,000 tons, and 200,000 tons for monosodium glutamate.