SINGAPORE, Dec 7 (Reuters) - Agri-food firm Japfa Ltd JAPF.SI stated on Monday it might promote an
SINGAPORE, Dec 7 (Reuters) – Agri-food firm Japfa Ltd JAPF.SI stated on Monday it might promote an 80% stake in its Indonesian dairy enterprise to non-public fairness corporations TPG and Northstar Group for $236 million, sending the Singapore-based agency’s shares 4% increased.
Japfa’s dairy enterprise in Southeast Asia does all the pieces from farming to the branding of dairy merchandise, and is Indonesia’s largest dairy farm operations by quantity of premium contemporary milk produced with a herd dimension of over 16,000 Holstein and Jersey cattle, based on an announcement.
The corporate stated a strategic partnership with TPG and Northstar can deliver each funding and senior administration experience to additional develop the enterprise.
In July, Japfa accomplished the sale of a 25% stake in its China dairy farming enterprise to Japan’s Meiji Co. Ltd for $254.Four million.
Credit score Suisse (Singapore) is the unique monetary advisor to Japfa on the take care of TPG and Northstar.
(Reporting by Anshuman Daga; Modifying by Aditya Soni)
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