Beijing Sanyuan Food Company has won the bidding for Sanlu with a bid of CNY616.5 million at the public auction of part of Sanlu's assets held by by Shijiazhuang Intermediate People's Court.
According to a representative from the court, the starting price for this auction was CNY600 million and several companies, including Hebei Jiahai Auction Company, Hebei Dongfang Auction Company, and Heibei General Auction Company, jointly operated the auction.
Beijing Sanyuan Food Company formed a bidding team with its wholly-owned subsidiary Hebei Sanyuan Food Company to participate in the auction and won it with a bid of CNY616.5 million. Shijiazhuang Caimao Investment and Development Company also attended the auction.
In addition, Gao Qingshan, general manager for Hebei Sanyuan Food Company, has published the company's plan for the recovery of Hebei's dairy industry. The company will invest CNY1.5 billion to build its own breeding base to protect its source of milk.