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Sovereign Wealth Funds Briefing - Categorized | Ethical/Green Investments

China’s sovereign wealth fund vies for Australian dairy stake

Posted on 10 January 2013

China Investment Corp. is among three large funds vying to take a stake in Australian dairy producer Van Diemen’s Land Co., or VDL. Executives from China’s US$482 billion fund are due to visit Tasmania state in February for further discussions over investing in the company, which is seeking to raise 180 million Australian dollars (US$189 million) to expand its milk production, two people familiar with the matter said.
VDL Chief Executive Michael Guerin told Deal Journal Australia the company had signed agreements for three large funds to conduct due diligence, but declined to confirm whether CIC was among them. All three have put in proposals featuring varying amounts of equity and debt, and he expects to finalize the deal by the middle of the year, he added………………………………………..Full Article: Source


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