China 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 economy
Economy /  China Economy

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

Su-Lin Tan
Su-Lin Tan in Singapore

Updated: 11:04pm, 25 Aug, 2020

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China 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
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