Investment firms Kohlberg Kravis Roberts & Co. (KKR) and CDH Investments have sold their stakes in Chinese dairy products company China Modern Dairy to China Mengniu Dairy for a total transaction value of US$410 million. KKR’s stake was sold through its Advanced Dairy Company holding company for approximately US$310 million, while CDH sold its stake through its holding company, Crystal Dairy Holdings, for US$100 million. Following the share purchase, Mengniu’s stake rose from 1 percent to approximately 28 percent, making it the largest shareholder in Hong Kong-listed China Modern Dairy.