Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

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

S&P/ASX 200

(XJO)
SummaryQuotesChartsNewsHeatmapComponents 
SummaryMost relevantAll NewsOther languagesNews of the index componentsMarketScreener Strategies

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.

REJECTED FOREIGN INVESTMENT DEALS

2019

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

2018

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

2016

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

2013

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

2011

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

2009

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%
All news about S&P/ASX 200
04:43a88 Energy Shares Down 22% On New US Drillings Suspension; ASX Trading Halted
MT
04:08aS&P/ASX 200 : Australia's Business Activity Reaches Two-Month Low in January Des..
MT
03:33aS&P/ASX 200 : Australian Retail Turnover Eases in December
MT
03:03aS&P/ASX 200 : Australia's Preliminary Retail Sales Climb 9.4% in December, But D..
MT
02:40aPensana Rare Earths to Delist from Australian Bourse on Feb. 24
MT
02:33aIonic Rare Earths Extends Mineralization at Makuutu Western Zone in Uganda; S..
MT
01:07aAustralia shares edge lower; post weekly gain on U.S. stimulus plan
RE
12:19aAustralian Shares Retreat on Extension of Isolation for Mutant COVID-19 Cases..
MT
12:06aS&P/ASX 200 : Australian Shares Post Moderate Losses on Extension of Isolation M..
MT
01/21Australian shares on track to gain 1.5% for week on further U.S. stimulus hop..
RE
More news
News of the index components S&P/ASX 200
06:34aIRESS : New deadline to breadline report
PU
04:10aWorley Secures Four Master Services Agreements from Cheniere Energy Subsidiar..
MT
04:07aBHP GROUP : RBC keeps its Buy rating
MD
01:09aNRW : Unit Secures $62 Million Contract
MT
01/21ECONOMIC AND FINANCIAL MARKET UPDATE : Housing Market; Another Good Year
PU
01/21LYNAS : Subsidiary Seals Deal with US Government for Light Rare Earths Facility;..
MT
01/21PERPETUAL : Assets Under Management Hits $69 Billion as of End-2020; Shares Slum..
MT
More news
Chart S&P/ASX 200
Duration : Period :
S&P/ASX 200 Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends S&P/ASX 200
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Heatmap :