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MarketScreener Homepage  >  Indexes  >  Australian Stock Exchange  >  S&P/ASX 200    XJO   XC0006013624

S&P/ASX 200

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Factbox - Foreign investment deals rejected by Australia

09/18/2019 | 12:13am EST

SYDNEY (Reuters) - Australia's coalition government will face its biggest test toward investment from mainland China since its May re-election with at least two corporate buyouts likely needing approval from a regulatory body increasingly vigilant of security risks.

Australia has taken a harder line to foreign investment particularly since the United States raised concerns over the involvement in telecommunications networks of Chinese base-station maker Huawei Technologies Co Ltd.

On Monday, Beijing-backed China Mengniu Dairy Co Ltd offered $13.25 per share to buy Bellamy's Australia Ltd, valuing the infant milk powder producer at A$1.5 billion (£825 million).

Meanwhile, conglomerate Lendlease Group sale of its engineering services business has attracted interest from more than one Chinese party, sources told Reuters.

The following is a list of major foreign investment deals that Australia rejected over the past decade.



Huawei is blocked from participating in Australia's fifth-generation (5G) mobile network on national security grounds


A A$13 billion ($8.90 billion) bid for natural gas company APA Group by Hong Kong's CK Infrastructure Holdings Ltd is rejected by Treasurer Josh Frydenberg citing the concentration of foreign ownership in gas transmission


Current Prime Minister and then-Treasurer Scott Morrison rejects a A$10 billion bid for 50.4% of electricity distributor Ausgrid from CKI and State Grid Corp of China citing security concerns

Morrison also rejects a A$371 million bid from Shanghai CRED and Hunan Dakang Pasture Farming for S. Kidman and Co, one of Australia's largest beef producers, saying the sale is not in the national interest


A A$3.4 billion bid from U.S. food processor Archer Daniels Midland Co for agri-business Graincorp Ltd is rejected by then-Treasurer Joe Hockey on competition and national interest grounds


Singapore Exchange Ltd's A$8 billion bid for peer ASX Ltd is rejected by Wayne Swan, treasurer under the administration of Julia Gillard, who said the deal would diminish Australia's economic and regulatory sovereignty


A A$1.75 billion bid from Hong Kong's Minmetals Land Ltd for OZ Minerals Ltd is altered when Swan rules the Prominent Hill mine in South Australia near the Woomera military zone could not be part of the deal

(Reporting by Scott Murdoch; Editing by Christopher Cushing)

By Scott Murdoch

© Reuters 2019
Stocks mentioned in the article
ChangeLast1st jan.
ALCON INC. 1.33% 65.36 Delayed Quote.9.69%
AMP LIMITED 0.64% 1.565 End-of-day quote.0.32%
APA GROUP 0.11% 9.52 End-of-day quote.-1.35%
ARCHER LIMITED -5.07% 4.215 Real-time Quote.44.39%
ARCHER-DANIELS-MIDLAND COMPANY -1.33% 52.79 Delayed Quote.4.72%
ASX LIMITED -0.65% 71.51 End-of-day quote.-0.68%
BALL CORPORATION -1.04% 91.3 Delayed Quote.-0.99%
BASE CO., LTD. 4.31% 6050 End-of-day quote.-1.63%
BASE,INC. 17.53% 12940 End-of-day quote.32.58%
BELLAMY'S AUSTRALIA LIMITED 0.00%End-of-day quote.0.00%
CHINA MENGNIU DAIRY COMPANY LIMITED -2.43% 48.1 End-of-day quote.2.78%
CK INFRASTRUCTURE HOLDINGS LIMITED 2.21% 44 End-of-day quote.5.64%
CLASS III MILK FUTURES (DC) - CMG (ELECTRONIC)/C1 0.19% 16.18 End-of-day quote.2.41%
CLASS IV MILK?FUTURES (GDK) - CMG (ELECTRONIC)/C1 0.22% 13.8 End-of-day quote.0.07%
DRY WHEY?FUTURES (DY) - CMG (ELECTRONIC)/C1 0.11% 45.75 End-of-day quote.3.39%
GRAINCORP LIMITED -1.86% 4.23 End-of-day quote.0.95%
LAND CO., LTD. 12.50% 9 End-of-day quote.12.50%
LENDLEASE GROUP 0.64% 12.53 End-of-day quote.-4.35%
LETS HOLDINGS GROUP CO., LTD. -0.27% 7.43 End-of-day quote.-4.50%
LINE CORPORATION 0.00% 5350 End-of-day quote.0.00%
LOOK HOLDINGS INCORPORATED 1.97% 931 End-of-day quote.-2.72%
MIDLAND HOLDINGS LIMITED 1.32% 0.77 End-of-day quote.4.05%
MINMETALS LAND LIMITED 0.00% 0.95 End-of-day quote.9.20%
NONFAT DRY MILK FUTURES (GNF) - CMG (ELECTRONIC)/C1 -0.20% 113.9 End-of-day quote.1.09%
OZ MINERALS LIMITED 2.85% 20.55 End-of-day quote.8.85%
S&P/ASX 200 -0.34% 6800.4 Real-time Quote.3.59%
SINGAPORE EXCHANGE LIMITED 0.59% 10.24 End-of-day quote.10.34%
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