Inner Mongolia Mengniu Dairy (group) Co., Ltd. made an offer to acquire additional 5% stake in Shanghai Milkground Food Tech Co., Ltd (SHSE:600882) for approximately CNY 800 million on October 13, 2022. Under the terms, Inner Mongolia Mengniu will acquire 25.80 million shares of Shanghai Milkground at a price of CNY 30.923 per shareChina International Capital Corporation Limited acted as financial advisor to Inner Mongolia Mengniu Dairy (group) Co., Ltd. Tender offer validity period is from October 18, 2022 to November 16, 2022.

Inner Mongolia Mengniu Dairy (group) Co., Ltd. completed the acquisition of additional 5% stake in Shanghai Milkground Food Tech Co., Ltd (SHSE:600882) on November 16, 2022. Post acquisition, Inner Mongolia Mengniu Dairy holds a total of 180,671,963 shares of the Shanghai Milkground, accounting for 35.01% of the Shanghai Milkground's current total shares.