SINGAPORE (Apr 16): Analysts are bullish about Japfa’s impending strategic partnership with Meiji Co in its China dairy business. The move will likely stabilise the agri-food company’s revenue stream and help the firm refinance loans it took out to consolidate its China operations in 2017.
JAPFA announced that it will sell 25% of its share capital in AustAsia Investment Holdings – which operates Japfa’s dairy farming business in China – to Meiji, a leading Japanese dairy company, for a total cash consideration of US$254.4 million ($363.4 million).
