30 Apr 2018

Japfa Ltd.'s proposed acquisition of the remaining Interest in AustAsia and AIH2 from Black River Funds

Partners Evelyn Wee, Favian Tan, Hoon Chi Tern and Associate Ng Su Rong have acted for Japfa Ltd., a leading pan-Asian industrial agri-food company listed on the SGX-ST, in its acquisition of the remaining shareholding interest in Austasia Investment Holdings Pte. Ltd. and AIH2 Pte. Ltd., from Black River Funds managed by Proterra Investment Partners LP, for an aggregate consideration of approximately US$263.1 million. The acquisition was completed on 30 April 2018, and the consideration satisfied in full with a cash payment of US$223 million and the balance satisfied by the issue of 90 million new shares in the capital of Japfa Ltd. Austasia Investment Holdings Pte. Ltd. and AIH2 Pte. Ltd. are principal subsidiaries of Japfa Ltd holding the Group’s dairy business comprising dairy farms in China and Indonesia, as well as the Group’s “Greenfields” milk downstream business.