The media mogul’s slow and steady approach to investing in China still pays dividends. But it’s been very much a two-way street.
Australia’s investment banking top tier – Barrenjoey, UBS, Macquarie, Goldman Sachs and Jarden – have all pitched for a role.
While parties have begun circling the plant, run by businessman Sanjeev Gupta until February, administrators have been warned upgrades are urgently needed.
Even the Cairns sunshine wasn’t enough to stop a litany of complaints from partners.
The Wesfarmers-owned hardware giant has already expanded into pet care and cleaning. Now it sees a $1.5 billion opportunity too good to pass up.
