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Zhongpin Considers Going Private

11 May 2012

CHINA - Chinese meat and food procesor Zhongpin has appointed Barclays Bank as its independent financial advisor. Akin Gump Strauss Hauer & Feld LLP has been retained as the legal counsel to the special committee of the Company's board of directors.

The company's board of directors formed the Special Committee to review and evaluate the 27 March 2012 non-binding proposal from its chairman and chief executive officer, Xianfu Zhu, to acquire all of the outstanding shares of the company's common stock not currently owned by him.

The Special Committee is considering Mr. Zhu's proposal, as well as the company's other strategic alternatives. No decisions have been made by the Special Committee with respect to the Company's response to Mr. Zhu's proposal.

The Special Committee has not set a definitive timetable for the completion of its evaluation of Mr Zhu's proposal or any other alternative and does not currently intend to announce developments unless and until an agreement has been reached.

There can be no assurance that any definitive offer will be made, that any agreement will be executed, or that Mr Zhu's proposal or any other transaction will be approved or consummated.

TheMeatSite News Desk



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