Adds particulars about goal firm, context
Adds particulars about goal firm, context
Nov 25 (Reuters) – China Mengniu Dairy Co Ltd 2319.HK on Monday stated its unit has entered into an settlement to purchase Australia-based dairy and drinks agency Lion-Dairy & Drinks Pty Ltd for A$600 million ($407 million).
Mengniu Dairy, part-owned by the Chinese language authorities, is shopping for the producer of primarily milk-based drinks and yoghurt from a unit of Tokyo-listed Kirin Holdings Co Ltd 2503.T.
In accordance with a press release from China Megniu, Lion-Dairy has a number one market share place for quite a lot of its product classes inside Australia and likewise has a presence in worldwide markets together with South East Asia and China, primarily by way of yoghurt merchandise.
China Mengniu’s newest acquisition comes practically two weeks after the Australian authorities gave conditional approval to the Chinese language agency’s acquisition of native toddler components maker Bellamy’s Australia Ltd BAL.AX for A$1.43 billion.
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