Government delays verdict on China bid for CSR

May 26, 2010

Australia's Foreign Investment Review Board today delayed a final decision on whether China's Bright Food Group can go ahead with its $US1.62 billion bid for a sugar unit of CSR.

The order by the Foreign Investment Review board, officially issued on May 19, will continue to block the deal for at least 90 days, while the board considers the proposal.

CSR shares were recently up 2 cents, or 1.2 per cent, to $1.63, compared with a gain of about 1.4 per cent for the overall market.

Reuters with BusinessDay