An AUD1.5 billion bid for Australia’s main sugar refiner, CSR, by one of the world’s biggest food companies is a precursor to the next wave of Chinese investment in Australian assets, observers say.
Bright Foods, best known in China for making White Rabbit lollies, revealed its bid for CSR yesterday. The 130-year-old CSR is a sizeable and low-cost player in the global sugar industry, producing about 4 percent of internationally traded raw sugar.
(Source: The Sydney Morning Herald)