Japfa selling 5% in China milk unit to New Hope for US$58.4 mil

The Edge Singapore
The Edge Singapore 9/7/2021 09:43 PM GMT+08  • 2 min read
Japfa selling 5% in China milk unit to New Hope for US$58.4 mil
The US$146 million from these three investors will be used by AustAsia for general working capital and corporate purposes.
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Japfa is selling 5% in its China-based milk subsidiary for US$58.4 million ($78.5 million), to boost its position as the country’s largest independent raw milk producer.

The transaction values AustAsia Investment Holdings, as this subsidiary is called, at US$1.17 billion.

The buyer, New Hope, is also in the agri-food industry, and will be yet another downstream player to buy from AustAsia.

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