Japfa to acquire remaining stake in dairy business for US$263.1 mil

SINGAPORE (Dec 22): Agri-food company Japfa has entered into a share purchase agreement to acquire the outstanding shares in AustAsia from Black River Funds which is managed by Proterra Investment Partners LP.

AustAsia consists of the company’s two principal subsidiaries: AustAsia Investment Holdings (AIH) and AIH2 (AIH2). The subsidiaries owns the group’s dairy business comprising dairy farms in China and Indonesia, as well as its “Greenfields” milk downstream business.

Japfa currently holds a 61.9% and 64.4% stake in AIH and AIH2 respectively, while Black River Funds owns the remaining interest.

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