China Mengniu and Kirin Holdings have abandoned the sale of the Japanese firm‘s Australian assets. Photo: AP
China’s Mengniu calls off deal to buy Australian drinks company after failing to get Canberra’s approval
- China Mengniu, one of China’s largest dairy firms, agreed in November to buy Lion Dairy & Drinks from Japan’s Kirin Holdings for A$600 million (US$429 million)
- News reports say Australian Treasurer Josh Frydenberg nixed the deal, contrary to advice from Foreign Investment Review Board to approve the purchase
Topic |
China economy
China Mengniu and Kirin Holdings have abandoned the sale of the Japanese firm‘s Australian assets. Photo: AP