China Mengniu and Kirin Holdings have abandoned the sale of the Japanese firm‘s Australian assets. Photo: APChina Mengniu and Kirin Holdings have abandoned the sale of the Japanese firm‘s Australian assets. Photo: AP
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: APChina Mengniu and Kirin Holdings have abandoned the sale of the Japanese firm‘s Australian assets. Photo: AP
China Mengniu and Kirin Holdings have abandoned the sale of the Japanese firm‘s Australian assets. Photo: AP
READ FULL ARTICLE
Close
We need your support

Advertising helps us continue to provide quality content. Help support us by disabling your adblocker on our site.

How to whitelist us:
  1. 1
    Click on the AdBlock icon at the top right corner of your browser.
    For iOS, go to Settings/Safari/Content Blockers and turn it off.

    For Android, go to your Ad blocker app/Settings and turn it off.
  2. 2
    Click Enabled on this site until the text reads Disabled on this site.
  3. 2
    Click the cross icon on the top right corner to close this window and refresh the page.
  4. 3
    Click the cross icon on the top right corner to close this window and refresh the page.