Acting for AustAsia Group on Acquisition of Meiji China’s Dairy Products Sales and Production Business

Rajah & Tann Singapore, a member firm of Rajah & Tann Asia, acted for AustAsia Group Ltd. (“AAG”) in its proposed acquisition, through its wholly owned subsidiary Shanghai AustAsia Food Co., Ltd., of the entire equity interest in a wholly owned subsidiary of Meiji (China) Investment Co., Ltd. (“Meiji China”). The target company holds Meiji China’s dairy product sales business and dairy production business in China. AAG and Meiji Holdings Co., Ltd., the parent company of Meiji China, are leading players in the dairy industry and are listed on the Hong Kong Stock Exchange and the Tokyo Stock Exchange, respectively. The acquisition consideration comprises a base purchase price of RMB320 million, subject to customary adjustments and an overall purchase price cap of RMB350 million. Rajah & Tann Singapore Partners Evelyn Wee and Favian Tan from the Mergers & Acquisitions Practice led the transaction.