August 19, 2010

IFC to buy stake in China's Muyuan

The International Finance Corp (IFC) is taking a US$10-million equity stake in Muyuan Foodstuff Co Ltd, to help double the Chinese company's annual production to one million hogs.

The investment will also help Muyuan, China's largest integrated hog-rearing company, to raise its food safety standards, the IFC said in a statement late Tuesday (Aug 17).

The purchase of the stake will underpin demand for livestock feed from local grain farmers in China's eastern-central Henan province.