Private equity firms Yunfeng Capital and CITIC Private Equity have agreed to invest at least RMB2 billion (approximately US$325 million) in an unlisted farming subsidiary of Shanghai-listed dairy producer Inner Mongolia Yili Industrial Group. Post-transaction, the two private equity investors will together hold a 60 percent stake in Yili Group’s dedicated farming unit, Inner Mongolia Yili Livestock Development. The investment is intended to support the construction of new farms and improve the company's supply of raw milk.