Freshfields Bruckhaus Deringer is advising Chinese state-owned Bright Food Group on a deal that will see it acquire a majority stake in Israeli dairy group Tnuva.

The parties did not disclose terms of their agreement, but The South China Morning Post reported that Bright Food is paying about $960 million to purchse a 56 percent stake in Tnuva from private equity firm Apax Partners in a deal valuing the Israeli company at $2.5 billion.