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Second Sanlu auction date set

26-Mar-2009

A second auction designed to dispose of the assets from the bankrupt Sanlu dairy joint venture is expected to go ahead on 7 April, according to press reports.

Shares in four dairy plants within the country, as well as 169 protected trademarks belonging to the group, are thought to be up for grabs at the sale-taking place in China's Hebei Province, reports the Xinhua state news agency.

New Zealand-based Fonterra, which was one of the joint venture’s parent companies, announced back on 24 December last year that a bankruptcy order had been issued by a Chinese court against Sanlu.