Norton Rose Fulbright has advised China Mengniu Dairy on its plan to buy infant formula maker Bellamy’s Australia for A$1.43 billion ($983 million), with Allens advising the seller.

According to Reuters, the deal offers Bellamy’s investors a way to cash out of a prospect that has spent years awaiting approval to sell product in its target market, China, while giving Mengniu a prized consumer brand. Foreign formula remains sought after in China following a contamination scandal a decade ago.

The NRF team was led by Sydney-based corporate/M&A partner John Elliott, with Hong Kong partners Psyche Tai and Peter Haslam advising on local regulations and the finance aspects, respectively. The Allens team was led by partners Guy Alexander and Tom Story.

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