Murray Goulburn: China’s Fuyang Farming weighs co-op bid

Another company understood to be interested is China Resources, which already owns a stake in the company, The Australian reports.

Speculation emerged almost two months ago that Chinese parties and private equity firms were making inquiries with financiers about securing a loan to buy the business.

Only weeks ago, Murray Goulburn’s adviser Deutsche Bank began knocking on the door of prospective suitors, and now a sale of the dairy co-op is in full swing.

Bids are due on September 15 and flyer documents are now out circulating in the market.

Fuyang Farming is a 79 per cent shareholder in Victoria’s Burra Foods.



Source: The Australian


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