Japfa to Sell Dairy Unit Stake to TPG Venture for $295 Million
Photographer: Tomohiro Ohsumi/Bloomberg
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Japfa Ltd., a Singapore-based food company, said it will sell an 80% stake in its Indonesian dairy unit to private equity firms TPG and Northstar Group for $236 million.
Japfa will retain a 20% stake in PT Greenfields Indonesia and support the new investors in managing the business, it said in a statement.