The Australian Government has approved the sale of Australian Milk Company , the country 's largest and oldest dairy farm , to Chinese company Moon Lake , subject to Moon Lake compliance with Australian taxation laws . Will Hodgman, Tasmania’s premier, also backed the deal, telling the Financial Times that if local objections blocked the deal it risked alienating future Chinese investors. The sale , worth billion m ( $ 200 million ) , is the latest in a series of acquisitions of agricultural businesses and assets by Chinese investors looking to secure food supplies in the Asia - Pacific region .
The Australian Government has approved the sale of Australian Milk Company , the country 's largest and oldest dairy farm , to Chinese company Moon Lake , subject to Moon Lake compliance with Australian taxation laws . The sale , worth billion m ( $ 200 million ) , is the latest in a series of acquisitions of agricultural businesses and assets by Chinese investors looking to secure food supplies in the Asia - Pacific region .