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A2 Milk wants to raise $40 million

A2 Milk is going on an $AUD40 million capital-raising hunt to support its planned expansion into China, the UK and the US.

A2 Milk, which only last July rejected takeover offers from both Australia's Freedom Foods and US dairy company Dean Foods, has appointed Goldman Sachs to act as sole arranger, book runner and underwriter for the fully underwritten placement, which is being offered to institutional investors.

The placement should raise most of the money, with the remainder coming from a share purchase plan.

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