Chinese takeover of Bellamy's infant formula would benefit tax-haven entities
by Ben Butler from on (#4QGZ0)
Almost 12% of firm's shares are held by Curaiao-registered entity linked to Kathmandu founder Jan Cameron
More than $176m will find its way to a mysterious entity in the Caribbean tax haven Curaiao linked to Kathmandu founder Jan Cameron if a proposed takeover of the infant formula company Bellamy's Australia by a Chinese group goes ahead.
The $1.5bn takeover bid, lodged by Hong Kong-listed China Mengniu Dairy Company, has drawn fire from Tasmanian independent Andrew Wilkie because one of Mengniu's key shareholders is a company owned by the Chinese state, the China National Cereals, Oils and Foodstuffs Corporation (Cofco).
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