Chinese pork processor Shandong Delisi has abandoned a planned investment in partnership with Yolarno Pty, the parent company of Australian beef processor Bindaree Beef.
Go deeper with GlobalData
However, Shandong Delisi has abandoned the tie-up due to an investigation by the Shenzhen Securities Exchange, which identified “a major violation, or suspicion of illegal disclosure, non-disclosure of important information”.
In a regulatory filing, Shandong Delisi noted the company has been issued with a warning and a fine of CNY30m. Various company officials were also fined for their role in the breach.
As of the most recent announcement, the company had not received an administrative punishment, but Shandong Delisi noted that the administrative penalty decision will be disclosed in a “timely manner”.
Shandong Delisi did not respond to requests for comment. Officials at Yolarno and Bindaree Beef could not be reached for comment.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
