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Japfa to acquire two dairy farms for $165.7 million to strengthen foothold in China by Tan Nai Lun Agri-food company Japfa, through its 75 per cent-owned subsidiary AustAsia Investment Holdings, has agreed to buy two dairy farms in Shandong, China, by acquiring Falcon Dairy Holdings, the group said on Monday (June 28).   AustAsia, which operates the group s dairy and beef farming businesses in China, will acquire the entire issued capital of Falcon for about US$123.4 million (S$165.7 million), the group said.     Japfa said the acquisition will enable it to take advantage of the favourable raw milk price environment due to the current supply shortage in the Chinese market, and also boost AustAsia s capacity and accelerate its expansion in China.

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