Wahaha enters bid for Sanlu

Wahaha, the beverage company based in Hangzhou, capital of Zhejiang province, has emerged as the latest bidder for the scandal-hit dairy company, Sanlu Group.

Zong Qinghou, CEO of Wahaha, said in an interview on Saturday that his company made an offer to acquire the beleaguered Hebei-based group. Zong did not mention the price of Wahaha's bid or disclose details of the move, but said that even if the proposed acquisition materializes, the drinks company would go into the dairy business by building its own facilities to make powdered milk.

A spokesman for Wahaha confirmed his company's intention to bid for Sanlu but did not provide further details.