Chinese dairy company Yili makes substantial offer for Murray Goulburn

A CHINESE dairy juggernaut is courting Australia’s biggest milk processor, Murray Goulburn Cooperative, lobbing a buyout offer for the group, sources say. Yili, which makes milk products for the Chinese market, is rumoured to the be in the box seat for the struggling Melbourne-based cooperative after tabling a substantial offer. Confirming last month that it…

Murray Goulburn: China’s Fuyang Farming weighs MG bid

INNER Mongolia Fuyang Farming is believed to be the latest Chinese party weighing a bid for embattled milk producer Murray Goulburn, joining other such as the listed a2 in the contest. Another company understood to be interested is China Resources, which already owns a stake in the company, The Australian reports. Speculation emerged almost two…

Chinese buy 51pc in Bindaree Beef, Australia’s fourth largest beef processor

Expansion plans are on the horizon again for Bindaree Beef after Hong Kong’s wealthy Hui family this week bought a 51 per cent stake in the northern NSW group in partnership with Beijing-based equity fund, Archstone Investment. The McDonald family’s Bindaree Beef Group (BBG) is Australia’s fourth largest beef processor, which owns the Inverell abattoir…

Chinese buy 51pc in Bindaree Beef, Australia’s fourth largest beef processor,

Expansion plans are on the horizon again for Bindaree Beef after Hong Kong’s wealthy Hui family this week bought a 51 per cent stake in the northern NSW group in partnership with Beijing-based equity fund, Archstone Investment. The McDonald family’s Bindaree Beef Group (BBG) is Australia’s fourth largest beef processor, which owns the Inverell abattoir…

House prices face China exodus risk, says former top US Federal Reserve Economist

Soaring house prices are vulnerable to a sharp downturn that would damage the local economy if Chinese buyers retreat from residential property in Australia, a former top US Federal Reserve official has warned.Nellie Liang, who recently visited Sydney and shared her thoughts on financial stability research with the Reserve Bank of Australia, told The Australian Financial Review policymakers…

Australian owned Weis company sold to international giant Unilever.

WEIS, one of Queensland’s most beloved ice cream companies has been bought up by international giant Unilever. Weis, which began its life when Les Weis started selling his iconic Fruito Bar in 1957, operates from a factory in Toowoomba.Unilever, who already own Streets ice cream, today announced it has entered into a definitive agreement to…

Australian owned Weis sold to international giant Unilever.

WEIS, one of Queensland’s most beloved ice cream companies has been bought up by international giant Unilever. Weis, which began its life when Les Weis started selling his iconic Fruito Bar in 1957, operates from a factory in Toowoomba.Unilever, who already own Streets ice cream, today announced it has entered into a definitive agreement to…

Tests find white spot disease DNA in supermarket seafood products

A Queensland academic is warning that lifting a ban on the importation of green prawns into Australia is "fraught with danger" and like "playing with fire". On Wednesday Dr Knibb presented the results of the USC Aquaculture Genetics Research Group testing to the Australian Prawn Farmers symposium on the Gold Coast, telling delegates the affected…

Aussies accepting farm sales to China claimed Australia-China Relations Institute

Australians are not as opposed to Chinese investors buying local farms and agricultural assets as often claimed, the Australia-China Relations Institute said. Institute deputy director James Laurenceson said a survey by the group showed the Australian public was more nuanced and sophisticated about the benefits and disadvantages of greater foreign investment in agriculture by Chinese…