BEIJING, Oct. 28, 2021 /PRNewswire/ -- On October 27, Inner Mongolia Yili Industrial Group Co., Ltd. ("Yili Group" or "Yili"), the largest dairy producer in Asia, announced that it took a stake in goat milk formula giant Ausnutria Dairy Co. Ltd. ("Ausnutria Dairy" or "Ausnutria") and became its largest shareholder. This marked the largest M&A deal for China's dairy industry in recent years. According to the announcement by Yili Group, the company will team up with Ausnutria Dairy through its wholly-owned subsidiary Hong Kong Jingang Trade Holding Co., Ltd. ("Jingang"), as a move to further its steps into infant formula and nutrition products. Jingang will acquire a total of 531 million shares held by previous shareholders at a price of HK$10.06 per share, which represents approximately 30.89% of the total number of issued shares of Ausnutria.