Australia’s Foreign Investment Review Board has delayed its decision on whether the proposed acquisition of CSR’s sugar unit by China’s Bright Food Group will be allowed to proceed.

Bright Food Group has issued a conditional bid of A$1.75bn (US$1.45bn) for the business.

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However, the FIRB said that it will block the proposed deal for 90 days from 19 May in order to further consider the offer.

CSR has also indicated that it is mulling the demerger of its sugar arm.

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