AustAsia Group Ltd.

Japan's Meiji Holdings is selling its dairy and B2B units in China to Shanghai AustAsia Food. The deal covers Meiji's drinking milk and yogurt operations, including full ownership of its production sites in Tianjin and Suzhou, and is valued at up to 320 million yuan, or 47.2 million dollars. Meiji already holds a 15.85 percent stake in AustAsia Group, the parent company of the buyer, and said it appointed external experts to ensure fairness and transparency. The transaction excludes the Guangzhou manufacturing plant and certain yogurt brands, with Meiji retaining related intellectual property. The sale is expected to close by the end of the year, and Meiji plans to redirect resources toward other China operations such as chocolate.