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Xinhua) 20:47, July 02, 2014
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Comments twitter facebook Sina Microblog reddit SINGAPORE, July 2 -- A consortium led by Singapore's sovereign wealth fund GIC andinternational private equity firm Olympus Capital has invested an additional 106 millionU.S. dollars in Huaxia Dairy Farm in China, GIC said in a statement on Wednesday.
GIC said it is contributing 70 million U.S. dollars of the funding, while Olympus Capital Asiais putting in 30 million U.S. dollars. Other existing shareholders, including Grand RiverCapital, are investing the remaining 6 million U.S. dollars.
Olympus Capital Asia previously made investments in the farm operator. It now hasinvested a combined total of 108 million U.S. dollars in the company, making it the largestshareholder.
Established in 2004, Huaxia is a fast growing operator of modern dairy farms, which triesto meet the demand for high- quality raw milk in China. It also has its own quality milkbrand.
Huaxia now operates three dairy farms in the city of Sanhe in Hebei province, near Beijing.The company is building a fourth farm in Xinghua, Jiangsu.
GIC said Huaxia will use the funding to expand the company's farming operations andretail dairy business. It will also use the funding to "further develop the company'sindustry-leading farm management technology, import additional heifers and drive theexpansion of the Wondermilk brand," the statement said.
(Editor:Du Mingming、Bianji)
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