Hong Kong businessman Hui Wing Mau has purchased the majority stake in Australian meat processing company Bindaree Beef Group, the company said Friday [1 September 2017]. Although the exact figure has not been disclosed, it is believed the 51 percent share of the business cost somewhere between 100 and 150 million Australian dollars (79-120 million U.S. dollars)…Full Article: Xinhua Sept 2017

Key Point

  • The 51% stake was sold to Hui Wing Mau’s Archstone Investment. Headquartered in Beijing, Archstone Investment is a property development firm that is also the controlling shareholder of the Hong Kong-listed Shimao Property Holdings (HKG:0813).

ChinaAg Comments

  • In October 2015, Delisi Food bought a 45% stake in Bindaree Beef Group, an Australian meat (e.g. beef) producer. The investment by Delisi Food, once approved by Australia’s Foreign Investment Review Board, will partly be used to develop upgrading Bindaree’s meat-processing plants in eastern Australia.
  • Founded as early as 1989 and headquartered in Zhucheng, Shandong province, Shandong Delisi Food (SHE:002330) is a major pork processor. The company also produces and distributes chilled meat products (e.g. chicken, liver, etc.) as well as sesame balls and pasta. The company was listed on the Shenzhen Stock Exchange in 2010.

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