CK Life Sciences set to buy leading grain producer
By Emma Gonzalez | China Daily | Updated: 2016-01-22 08:33
CK Life Sciences International (Holdings) Inc, a Hong Kong-based biotechnology company, is close to completing the acquisition of one of Western Australia's largest grain producers, continuing its expansion in the overseas agri-food industry.
A subsidiary of conglomerate Cheung Kong (Holdings) Ltd, the Chinese firm has offered $24 million for Nicoletti Group, an exporter of wheat and barley, according to Xinhua News Agency.
The agreement between the two was reportedly finalized on Thursday, pending approval from Australia's Foreign Investment Review Board.
Photo
