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Ping An Capital, Primavera, and Junqian to Acquire Junlebao

China-focused investors Ping An Capital, Primavera Capital, and Junqian Management have agreed to acquire a 51 percent stake in China-based dairy products producer Junlebao for CNY4 billion (approximately USD569 million) from parent company China Mengniu Dairy. Junlebao, which operates 17 production plants and 10 ranches, primarily produces milk powder, low-temperature yogurt, and milk. Through the new partnership, the company reportedly aims to strengthen its financial position, focus on its core businesses, and expand its offering of premium dairy products.