KUALA LUMPUR: Dutch Lady Milk Industries Bhd has agreed to buy a 35 per cent stake in Johor-based integrated dairy business Jemaluang Dairy Valley Sdn Bhd from Kulim (Malaysia) Bhd.
The completion of the proposed acquisition remains subject to conditions under the share sale agreement, including third-party approvals.
Upon completion, Dutch Lady Malaysia will join Kulim, a wholly owned subsidiary of Johor Corporation (JCorp), and A2 Fresh Holdings Sdn Bhd (A2F), a subsidiary of Rhone Ma Holdings Bhd, as shareholders in Jemaluang Dairy.
Dutch Lady Malaysia said the investment will strengthen its presence in the domestic fresh milk segment as the country seeks to expand local dairy production and improve food security.
