Ausnutria buys stake in Dutch dairy firm

SHANGHAI - Ausnutria Dairy Corp Ltd's shares surged on Thursday after it said it will buy a controlling stake in Dutch company Hyproca Dairy Group BV.

The Chinese infant milk powder maker's H-shares in Hong Kong ended 11.7 percent higher at HK$2.38 (30 cents) on Thursday, after opening 7 percent higher and reaching a high of HK$2.90 at 3:23 pm.

In a statement to the Hong Kong Stock Exchange on Wednesday night, Ausnutria said it will pay 10.4 million euros ($14.9 million) to buy a 31.6 percent stake in Hyproca Dairy from its holding company Dutch Dairy Investments BV (DDI).