The group says the move is expected to strengthen its position as a raw milk producer in the growing Chinese dairy industry.
SINGAPORE (Apr 15): Agri-food company Japfa has agreed to sell a 25% stake in wholly-owned subsidiary AustAsia Investment Holdings to Japanese dairy giant Meiji for US$254.4 million ($359.9 million).
Following the completion of the transaction, Japfa will own a 75% stake in AustAsia, which operates the group’s dairy farming business in China.
