DLA Piper advises on sale of majority stake in China Kangda Food Company

DLA Piper has advised Zenith Hope, an investment holding company incorporated in the British Virgin Islands, on the sale of its majority controlling stake in the China Kangda Food Company, which has a primary listing on the Hong Kong Stock Exchange and a secondary listing on the Singapore Exchange.

Hong Kong Sheng Yuan Holding Company Limited acquired the controlling stake. The transaction involved the sale of 247,708,066 shares, representing approximately 54.69% of China Kangda Food Company's total issued shares, for a cash consideration of HKD65 million (approx. USD8.34 million). Completion took place on 9 December 2025.

The sale triggered a mandatory unconditional general cash offer for all remaining shares at HKD0.265 per share, in compliance with the Hong Kong Takeovers Code. Closing of the offer took place on 19 December 2025.

China Kangda Food Company is a leading food processing and manufacturing group based in Qingdao. The group operates four business segments: processed foods, chilled and frozen rabbit meat, chilled and frozen chicken meat, and other food products including pet food and dehydrated goods. It has a strong footprint in China across 26 provinces and an international presence in over 15 markets.

The DLA Piper team was led by Hong Kong based Corporate partner Christina Loh, with support from Maisie Yeung (associate), Yu Sun (registered foreign lawyer), Xinlan Zeng (legal assistant) and Phoenix Liu (trainee solicitor).

Christina commented: “This deal underscores our team’s deep expertise in cross-border M&A and regulatory compliance under the Hong Kong Takeovers Code across a range of sectors. We look forward to continuing to assist our clients in navigating complex transactions in the region in 2026 and beyond.”

This transaction reflects the buoyancy and resilience of Hong Kong’s corporate landscape, which continues to attract strategic investments and cross-border deals despite global market challenges.