Yili bidding for Murray Goulburn

Source:Global Times Published: 2017/9/20 22:08:40

Chinese dairy giant Inner Mongolia Yili Industrial Group Co plans to acquire Murray Goulburn, Australia's biggest dairy products company, The Australian newspaper reported Wednesday.

The proposed bidders include Mengniu Dairy and CR Ng Fung, according to the report.

Yili has accelerated overseas expansion in recent years, although it faced some difficulties. In May, the company announced a plan to bid for US organic yogurt business Stonyfield for around $850 million, but Danone sold Stonyfield to the French dairy group Lactalis.

Posted in: ECONOMY

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