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Australia Clears Approves Lion Dairy, Drinks Sale To Chinese

By  |  February 23, 2020

Australia’s competition regulator has given its tick of approval to the $600 million purchase of Lion Dairy and Drinks by China’s Mengniu Dairy Company, rejecting concerns about reduced milk market competition in Victoria’s Gippsland region.

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    Mengniu, already a key stakeholder in Burra Foods, is planning to buy Lion’s nationwide portfolio of raw milk processing facilities, two of which are located at Chelsea and Morwell in Gippsland.

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    Mengniu, through another Chinese subsidiary, has an indirect interest in Burra Foods, which also has a milk processing plant at Korumburra in Victoria’s South East.

    Late last year Mengniu also bought the Bellamys Organic dairy business in Tasmania and Victoria for $1.5 billion.