SYDNEY : Chinese companies are showing renewed interest in Australian acquisition targets including natural resources and agricultural assets, as hopes swirl that a diplomatic thaw between the two countries will yield more deals next year, bankers and lawyers said.
"We are starting to see green shoots in Chinese inbound M&A interest, but we are still not anywhere near pre-pandemic levels," said Lawrence Mendes, partner at global law firm Baker McKenzie. In a sign of renewed Chinese interest in Australia, China's Tianqi Lithium Corp said on Tuesday it was exploring investment opportunities in Australia's burgeoning battery minerals sector.
Australia unveiled the biggest shakeup of its foreign investment laws in almost half a century in 2020 to ensure greater scrutiny of companies when bidding for sensitive assets, regardless of the size of the deal. The head of Australia's FIRB, Bruce Miller, told a conference last month that he expected a pickup in investment applications from China after they had become scarce over the last three to four years.
Source: News Formal (newsformal.com)
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