The brand of the Sanlu Group, the Chinese dairy group which was involved in the melamine scandal, was recently sold at auction for CNY7.3 million.
The starting price of the bidding for the Sanlu brand was CNY7 million and an unidentified individual entrepreneur from southern China won the bid for CNY7.3 million. No further information was revealed about the buyer.
Once a famous Chinese dairy brand, Sanlu brand had a peak value of over CNY10 billion at one point. According to industry experts quoted in local media, even though the company was affected in the milk adulteration scandal, its brand still has great market value.
Earlier, Beijing-based dairy company Sanyuan bought the core assets of Sanlu, which went bankrupt in February, for CNY616.5 million at an auction on March 4, 2009.