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Australia To Block Chinese $9B Energy Takeover Bid

by abcnews.go.com posted 2weeks ago 20 views
Australia to block $9 billion energy takeover bid by China-Hong Kong group CK Consortium. : The Australian government on Wednesday warned it intends to block a Hong Kong and Chinese consortium's 13 billion Australian dollar ($9 billion) takeover bid for an energy infrastructure company because it conflicts with Australia's national interest. The CK Consortium needed approval of Australia's Foreign Investment Review Board to take over APA Group, which owns more than 43,700 kilometers (27,100 miles) of gas pipeline in Australia.