Australia: Beef company sells stake to Chinese rival - leatherbiz: Lea Leatherbiz

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Australia: Beef company sells stake to Chinese rival

29/10/2015
Australia's fourth largest beef producer has sold a 45% state to China’s Shan Dong Delisi Food Co for $105 million.

The gives Bindaree Beef access to a sales network of 700 million and is reported to be a test of the Free Trade Agreement signed by the countries in June.

Bindaree’s chief financial offer James Roger said: "With the benefits from the FTA flowing to the Australian beef industry, the opportunity to become a premium beef supplier to China is one that we expect will bring enormous benefits, not just to Bindaree but to Australia's broader beef industry.”

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