View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
September 11, 2017

Chinese companies linked with Murray Goulburn bid

Chinese companies Inner Mongolia Fuyang Farming and China Resources have been linked with making bids for Australian dairy co-operative Murray Goulburn.

By Andy Coyne

Chinese companies Inner Mongolia Fuyang Farming and China Resources have been linked with making bids for Australian dairy co-operative Murray Goulburn.

Bids are due in by 15 September and a number of suitors have already emerged including New Zealand dairy and infant formula business A2 Milk and now, according to The Australian newspaper, the Chinese duo are ready to show their hand.

China Resources already owns a stake of around 6% in Murray Goulburn, which may give it leverage when making a bid.

Fuyang Farming, meanwhile, is a 79% shareholder in Australia’s Burra Foods after a deal struck in May last year.

Speculation has been rife about Murray Goulburn’s future ownership ever since the under pressure cooperative launched a “comprehensive” review of its business back in June.

It is understood to have engaged adviser Deutsche Bank to speak to prospective suitors on its behalf.

Aside from A2 Milk, other possible acquirers of all or part of Murray Goulburn include Australia’s Goodman Fielder and Bega Cheese and Italy’s Parmalat.

Murray Goulburn recently sold off its Kiewa Country milk brand to Kyvalley Dairy Group.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every other month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Food