Fraser and Neave subsidiary sells entire 29.5% stake in China Dairy Group

The shareholding interest will be acquired by Oasis Ventures Limited for approximately S$38m.

A Fraser and Neave announcement said, “The Purchase Price represents a gain of approximately S$18 million, and the Purchase Price per Sale Share represents a premium of 156% to CDG’s closing share price of S$0.114 on 27 October 2011.”

The share purchase agreement is expected to be completed on or about 1 November 2011.

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