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