Yili’s Westland takeover gets OIO approval

Tue, 16 Jul 2019

By Victoria Young July 16 (BusinessDesk) - The Overseas Investment Office has approved Inner Mongolia Yili Industrial Group’s purchase of Westland Co-operative Dairy Group, after finding Yili has the relevant business experience and has shown financial commitment. The $588 million deal to sell the co-operative for $3.41 a share is now closer to completion having received shareholder approval earlier this month. The transaction now needs High Court approval, which is expected this week. The OIO said in a statement that Yili - which alr...

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