Dongfang Modern Agriculture Holding Group Limited (ASX:DFM) agreed to acquire 70% stake in Bio Health Pharmaceuticals Pty Limited for AUD 18 million on April 20, 2018. The transaction will be funded by a term loan facility with China Huarong Macau (HK) Investment Holdings, which is a member of the China Huarong group of companies. The term loan of approximately AUD 50 million was fully drawn on January 2, 2018. Upon completion, Bio Health Pharmaceuticals Pty Limited's key management will continue to run the Bio Health business and has committed to remain with the company for over four years. Onward Business Consultants Pty Ltd, Investment Banking Arm acted as financial advisor for Dongfang Modern Agriculture Holding Group Limited. Dongfang Modern Agriculture Holding Group Limited (ASX:DFM) completed acquisition of 70% stake in Bio Health Pharmaceuticals Pty Limited on April 23, 2018.