Australia’s largest grain cooperative, CBH, has sold its stake in Interflour for A$169 mln

The deal includes a loan repayment and ends a nearly 20-year partnership in one of Southeast Asia’s largest flour milling holdings. Australia’s largest cooperative, CBH Group, has completed the sale of its 50% stake in the flour milling company Interflour to Hong Kong investment fund Upper Pickering Holdings for A$169 million (approximately $110.4 million). Interflour’s second co-owner, Origold Profits, part of the Indonesian conglomerate Salim Group, also agreed to the deal. Regulators also approved the sale, according to Grain Central. In addition to the transaction price, CBH managed to repay a A$46 million loan provided to Interflour in 2019 to support its financial recovery and debt rebalancing program. Interflour is one of the largest flour millers in the region. The Interflour Group was established in 2005 after acquiring six mills in Indonesia, Malaysia, and Vietnam. Currently, the Singapore-based company operates nine mills, including a facility in the Philippines, with a ...