Published: November 14, 2019
Treasurer backs foreign investment review board’s all clear for takeover of milk formula company by Chinese group
The former Nationals leader Barnaby Joyce says he is “disappointed to see yet another piece of Australia sold to the Chinese” after the federal government approved the $1.5bn takeover of Bellamy’s by China Mengniu Dairy Company.
The treasurer, Josh Frydenberg, has backed the foreign investment review board’s view that the acquisition is not contrary to Australia’s national interest, but has imposed conditions including that majority of the Bellamy’s board of directors will have to be Australian resident citizens.
Continue reading...from The Guardian https://ift.tt/2rE8lAS
via
0 Comments