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Kirin To Sell Australia's Lion-Dairy To Bega Cheese For Over $385m: Nikkei

Published on Nov 23 2020 9:29 AM in Fresh Produce tagged: Trending Posts / Kirin / Lion-Dairy and Drinks / Bega Cheese

Kirin To Sell Australia's Lion-Dairy To Bega Cheese For Over $385m: Nikkei

Japan's Kirin Holdings Co has decided to sell its Australian dairy firm Lion-Dairy and Drinks Pty Ltd to Bega Cheese Ltd for more than 40 billion yen ($385 million), according to a report in the business daily, Nikkei.

The agreement comes after Kirin and China Mengniu Dairy Co said in August they had given up on a deal for Lion-Dairy worth $430 million, amid increasing Sino-Australian tensions.

The deal was expected to be announced soon, the Nikkei said, without citing its sources.

News by ReutersClick subscribe to sign up to ESM: European Supermarket Magazine.

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