Business
Australia blocks Chinese firm’s bid to buy major dairy firm – Bangkok Post
SYDNEY: Australia said Tuesday it “would be contrary to national interests” to allow a Chinese firm to buy a major dairy producer, the latest sign of souring relations between the two countries.
SYDNEY: Australia said Tuesday it “would be contrary to national interests” to allow a Chinese firm to buy a major dairy producer, the latest sign of souring relations between the two countries.
The US$430 million sale of Lion Dairy and Drinks — currently owned by Japan’s Kirin — to Mengniu Dairy had been awaiting regulatory approval since November, but the Chinese firm pulled out of the deal Tuesday.
“Given this approval is unlikely to be forthcoming at this time, Lion and Mengniu Dairy hav…
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