Reading Time: 2 minutes Sydney | Reuters –– A Chinese billionaire has bought two large Australian cattle stations for A$47 million (C$44.8 million), in at least the third deal this year involving a Chinese investor buying into the country’s farmlands. Xingfa Ma, who owns the Tianma Bearing Group Co., snapped up 40,000 head of cattle along with the 705,700-hectare […] Read more
Chinese billionaire buys Australian cattle stations
Australia’s temperatures found fastest-rising worldwide
Reading Time: 2 minutes Sydney | Reuters –– Australia faces a rise in temperature of potentially more than 5 C by the end of the century, outpacing global warming worldwide, the country’s national science agency said Tuesday. In its most comprehensive analysis yet of the impacts of climate change, the Commonwealth Scientific and Industrial Research Organization (CSIRO) painted a […] Read more
Australian ag exports to China still face hurdles after trade pact
Reading Time: 3 minutes Sydney | Reuters — A trade deal signed with great fanfare between China and Australia has been touted as a major step toward Australia shifting its economy from a “mining boom” to a “dining boom,” but the reality is likely to be more sobering. Australia is looking to replace its reliance on exports of minerals […] Read more
Landmark GM canola case pits neighbour against neighbour in Australia
Reading Time: 5 minutes Sydney | Reuters — Two neighbouring farmers, a field of canola and a gust of wind are at the centre of a landmark court case in Australia that could have consequences for the controversial growing of genetically modified (GM) crops in the country. Steve Marsh is suing former childhood friend Michael Baxter after harvested seed […] Read more
Australia puts Saputo’s bid for cheesemaker on hold
Reading Time: 2 minutes The three-way battle for Australia’s oldest dairy firm took a fresh twist on Friday when a regulator temporarily stopped Canadian suitor Saputo Inc. from processing acceptances for an offer that has the backing of the target’s board. The blow to the A$515 million bid from Canada’s biggest dairy processing firm for Warrnambool Cheese and Butter […] Read more
ADM, GrainCorp settle in for wait on takeover approval
Reading Time: 3 minutes Australia’s GrainCorp and U.S. suitor Archer Daniels Midland (ADM) are hunkering down for a long wait for Chinese regulatory approval after agreeing to a A$3 billion (US$3.1 billion) takeover deal Friday. In a sign of China’s growing scrutiny of global M+A deals, GrainCorp and ADM have tailored the deal to include an extra payment for […] Read more
Australia’s GrainCorp rejects another ADM offer
Reading Time: 2 minutes GrainCorp Ltd. on Thursday rejected a sweetened $2.9 billion bid from Archer Daniels Midland (ADM), putting pressure on the U.S. agribusiness giant to boost its offer for Australia’s last major independent grains handler. ADM was likely to lift its A$12.20 bid, as it targets the purchase to give it a doorway to supply fast-growing Asia […] Read more
ADM makes play for Australia’s Graincorp
Reading Time: 4 minutes U.S. agriculture giant Archer Daniels Midland raised the stakes in the global race for grains trading power on Friday, by seeking talks to buy smaller Australian shipper GrainCorp to build up its platform in Asia. While several of Illinois-based ADM’s up-and-coming rivals have focused on big deals in North America, ADM CEO Patricia Woertz’s potential […] Read more
A message from April Stewart, Country Guide's Associate Editor
