Coroner & Legal
Kathmandu founder Jan Cameron plans rival bid to buy Tasmanian dairy giant VDL
*Pic: H’s painting of Jan Cameron …
Businesswoman Jan Cameron plans to underwrite a rival bid for Tasmanian dairy giant Van Diemen’s Land Company, in an attempt to put the business into Australian hands.
Chinese businessman Lu Xianfeng’s company Moon Lake Investments has made a $280 million binding offer to buy the dairy company, but the sale is still subject to approval from the Foreign Investment Review Board.
The board’s decision is expected this month.
Ms Cameron is relying on federal crossbenchers, including independent MP Andrew Wilkie, and senators Nick Xenophon, Jacquie Lambie and John Madigan, to lobby Treasurer Scott Morrison to veto the sale to Moon Lake.
Ms Cameron, the founder of retail chain Kathmandu, said she was getting legal advice about underwriting a bid that is commercially similar to the Chinese bid.
“I’m putting out expressions of interest,” she said.
“I’m underwriting it, so I’m sure there will be other significant investors who come on board.”
Ms Cameron will lodge a formal expression of interest by Friday.