In September, 2002, the promoters of Mengniu Dairy registered and established Jinniu Company in the British Virgin Islands. On the same day, investors, business contacts and employees of Mengniu Dairy registered and established Yinniu Company. Jinniu and Yinniu bought 50% of the shares of Cayman Islands Company at the price of US$ 65,438+0 respectively, and later established Mauritius Company, a wholly-owned subsidiary of Cayman Islands Company. This investment was eventually exchanged for 66.7% equity of Mengniu Dairy in Chinese mainland through Mauritius, and Mengniu Dairy changed from a private enterprise to a joint venture.
In July 2009, COFCO invested HK$ 6 1 billion to acquire a 20% stake in Mengniu, and COFCO became the largest shareholder of Mengniu.