July 16, 2014

Tianshan to acquire Australia's Minjah Pastoral for US$23.58 million

Xinjiang Tianshan Animal Husbandry Bio-engineering Co., Ltd. (Tianshan) plans to acquire Australia's Minjah Pastoral Company for AUD25.25 million (US$23.58 million).

Tianshan said in a statement that the company has signed the agreement with Tim Clarke, the owner of Minjah Pastoral. It also said that the acquisition will help the company enhance its business profile and market position, and improve its profitability.

Situated in Victoria State, Australia, Minjah Pastoral is one of the most prestigious pastures in the state. It spans 2,868 hectares and is mainly used for farming of lambs, beef cattle, dairy cattle and crops.

Tianshan estimates that the pasture will generate sales revenue of RMB207.35 million (US$33.39 million) and net profit of RMB28 million (US$4.51 million) per year.