China's Yili scraps $667m deal for organic milk company

China's Yili scraps $667m deal for organic milk company

U.S. 100 dollar banknotes and Chinese 100 yuan banknotes are seen in this picture illustration in Beijing, China, January 21, 2016. REUTERS/Jason Lee

Inner Mongolia Yili Industrial Group Co. terminated a planned 4.6 billion yuan ($667 million) purchase of a stake in  China Shengmu Organic Milk Ltd. because it didn’t win regulatory approval from Chinese authorities.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter