New Zealand’s Fonterra sells China dairy farms for $368 million

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© Reuters.  © Reuters.

(Reuters) – New Zealand’s Fonterra (NZ:) (NZ:) said on Monday it would sell its dairy farms in China for a total of NZ$ 555 million ($ 367.97 million), with China Youran Dairy Group buying most of it.

Youran will purchase the company’s two farming-hubs for NZ$ 513 million, while Beijing Sanyuan Venture Capital is set to acquire a 85% stake in Hangu farm.

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