Shanghai's Bright Food Group said it had approached Australia's CSR to acquire its sugar and renewable energy unit, which is Australia's biggest raw sugar producer, for up to A$1.5bn (US$1.4bn) in cash.
CSR, which plans to split in two by demerging its sugar and renewable energy unit from its building products operations, dismissed the approach, saying Bright Food had not made an offer but simply requested talks to develop a bid proposal.
Chinese interest in Australian companies has focused on resources, but Chinese groups are widening the business sectors they are targeting. However, a bid would attract regulatory scrutiny, given CSR's dominant market position.
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