Australia said to reject China-backed company's offer to buy dairy firm, amid soured diplomatic ties

SYDNEY - Australia will not approve China Mengniu Dairy's proposed buyout of some of Australia's best-known milk brands from Japan's Kirin Holdings, the Australian Financial Review reported on Thursday .

China Mengniu Dairy offered to buy Lion Dairy & Drinks from Japan's Kirin Holdings in November last year. The law also empowers the government to force the sale of a business if it deems it a national security risk."The government does not comment on the details of foreign investment screening arrangements as they apply, or could apply, to particular cases," he said in an e-mailed response.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

The Straits Times /  🏆 8. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

MSCI launches climate change indexes for China stocksMSCI published two climate change indexes on Tuesday that allow investors in China stocks to lean toward companies with lower carbon emissions. The move represents MSCI's efforts to promote environmental, social and governance (ESG) standards in China, where the government seeks a difficult balance
Source: YahooSG - 🏆 3. / 71 Read more »