New York-based private investment firm Kohlberg Kravis Roberts (KKR) has divested its entire stake in China Modern Dairy, for around $80m.
The company sold 168 million shares at HK$3.70 ($0.47) per share.
China Modern Dairy is an industrialized agricultural company and operates dairy farms and produces raw milk in China. China Modern Dairy Holdings focuses on large-scale industrialized free-stall dairy farming.
KKR, along with CDH Investment, acquired stake in China Modern Dairy in 2008. In 2013, KKR and CDH sold 26.9% stake to dairy products maker China Mengniu Dairy for HK$3.18bn ($410m).
KKR member Julian Wolhardt told Reuters that: "We are very proud of the partnership we have had with Modern Dairy since 2007 in supporting their efforts to provide safe and healthy drinking milk to Chinese consumers."
China Modern Dairy sold 463,991t of milk, up 51.6%, compared with corresponding period last year.
