Dairy Farm International Holdings - Discontinued Operations

Discontinued Operations

• In 1998, Dairy Farm sold out its 49% interest in Nestlé Dairy Farm, set up in 1992 to develop dairy products factories throughout China, to Nestlé; on the merger of Kwik Save with Somerfield, Dairy Farm sold its 11% holding for US$290 million. Dairy Farm acquired 25% of the "No Frills" Kwik Save Group in 1987; Sold the 108-store Simago chain in Spain acquired in 1990.
• In March 2000, Dairy Farm sold its half share in DFI Géant, the Taiwan hypermarket opened in 1998 back to Casino, its joint venture partner.
• In 2001, The Company sold the 287-store Franklins chain in Australia which it acquired in 1978. Its Hong Kong-based distribution business, Sims Trading, was sold to CITIC Pacific.
• In June 2002, the 61-store Woolworths chain in New Zealand acquired in 1990, was sold for US$337 million.
• In 2004, the Group's Hong Kong ice manufacturing business which began in 1918 was sold for US$107 million.