Treasurer Josh Frydenberg halts Chinese takeover over national security risk

Treasurer Josh Frydenberg halts Chinese takeover over national security risk
Treasurer Josh Frydenberg has knocked back a $300 million Chinese takeover of a major building contractor in Australia on national security grounds in a move set to inflame the war of words between the two nations.
Fears that China could gain access to sensitive information about national infrastructure including Victoria’s police headquarters’ design and vaccine laboratories were a factor in the decision to ban the deal.
In a statement, ProBuild’s South African owners Wilson Bayly Holmes told news.com.au the takeover had been rejected on “national security grounds”.
“WBHO has been advised by the potential acquirer of ProBuild that it has withdrawn its proposed investment application in ProBuild lodged with the Australian Foreign Investment Review Board following advice that its application would be rejected by the Federal Government on the grounds of national security,’’ it said.

https://www.news.com.au/national/politics/treasurer-josh-frydenberg-halts-chinese-takeover-over-national-security-risk/news-story/9d92e1f0ff1c7693c1d562194d33ab95