CONSUMER NEWS
BUYING BACK
(SOME OF) THE DAIRY FARMS FROM CHINA
Australian fund manager Prime Value Asset Management has acquired 11 dairy farms in northwest Tasmania from the Chinese owned Van Dairy Group. The fund paid $62.5 million for the properties which include 5000 cows and 2200 hectares of land at Circular Head. It is the first time the farm has been Australian owned since it was founded and managed out of London in the 1830s. Van Dairy still owns almost 16,000 hectares of dairy farms at Circular Head in north-west Tasmania. Owned by the Chinese billionaire Xianfeng Lu, paid $280 million in April 2016 for the 25 dairy farms. Prime Value will place the properties in its unlisted $1.5 billion dairy trusts.
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