April 23, 2010
Hopu and Temasek invest in China Yurun
Chinese buyout firm Hopu and Singapore wealth fund Temasek have bought US$247 million worth of shares in China Yurun Food from the meat processing company and controlling shareholder.
Willie Holdings, the controlling shareholder of Yurun, one of China's largest pork distributors, is selling 166 million of its shares at a 9% discount to Yurun's closing price on Apr 21, netting HK$3.96 billion (US$510 million).
Hopu Investments, run by Chinese dealmaker Feng Feng Lei and former Goldman banker Richard Ong, has taken up US$167 million worth of the shares, a source close to the deal said.
Temasek has bought US$60 million worth of shares and its investment arm, Seatown, has taken up worth US$20 million, the source, who declined to be identified because of the sensitive nature of the deal, said.
Yurun did not identify the investors in the share placement.
