Business
Sale of Australian dairy business Lion Dairy to China fails after Treasurer disapproves – NEWS.com.au
Sale of Australian dairy business Lion Dairy to China fails after Treasurer disapproves
A Japanese-owned beverage giants plans to sell its Australian dairy and fruit juice business to a Chinese company has collapsed after failing to get the blessing of Treasurer Josh Frydenberg.Kirin struck a deal in November to divest its Lion Dairy and Drinks subsidiary to China Mengniu Dairy. The Australian Competition and Consumer Commission allowed the sale in February.
But Kirin advised on Tuesday the companies had mutually decided to abandon the deal as they had not secured federal governme…
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