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Japanese Group to Sell Stakes in Chinese Farm, Dairy Outfits

23 December 2016

JAPAN - Asahi Group Holdings will unload its shares in a dairy company and farm business in China, as it realigns its assets to focus on strategic growth fields.

Asahi will sell the stakes to Chinese company New Hope Dairy for an estimated sum of a little over 1 billion yen ($8.49 million). The transaction is to be completed this winter.

The businesses in Shandong Province produce milk using Japanese technology, and about 30 kinds of vegetables throughout the year using minimal amounts of farm chemicals. The products, sold in the area as well as such cities as Shanghai and Beijing, are popular as upscale items.

Source: Asian Review

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