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Mengniu Terminates Acquisition of the Second Largest Dairy Company in Australia

Mengniu terminates the acquisition of Lion Dairy & Drinks because it hasn’t received official approval from the Treasurer of Australia, Josh Frydenberg. The termination of acquisition will not cause material adverse effect to Mengniu, however, it does show instability of investing in Australia.

On August 25th, China Mengniu Dairy Company Limited ("Mengniu") revealed in an announcement that it had terminated acquisition of the second largest dairy company in Australia, LION-DAIRY & DRINKS PTY LTD ("LDD"), in a written agreement. According to Mengniu's announcement, the reason of the termination is "one of the conditions was not achieved by the preconditioned expiration date". [1] 

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